Views on improving the integrity of global capital markets

Investment Industry


Revisions to the CFA Institute Code of Ethics and Standards of Professional Conduct

In 2023, the CFA Institute Board of Governors voted to revise the Standards of Professional Conduct in three areas. The changes became effective 1 January 2024.

Lessons for India from LIBOR Transition

The London Interbank Offered Rate (LIBOR) transition is a landmark event, and most discussions in India have focussed on the impact. The lessons the LIBOR transition holds for Indian benchmark reforms are more interesting.

Regaining Trust

Trust in the financial industry remains low more than a decade after the global financial crisis.

Is the Proxy Advisory Industry in Danger?

The Securities and Exchange Commission (SEC or the Commission) appears set to unveil new oversight for firms that advise investors on voting their shares in public companies.

Nine Cursory Observations About WeWork

WeWork. Where to begin? Here’s a cursory look so far.

EMIR: Regulating Systemically Important Central Counterparties

To improve the transparency and stability of the financial system in the aftermath of the global financial crisis, EMIR has imposed three new regulatory requirements.

Embracing the Inevitable: ESG Disclosures

When it comes to ESG reporting, survey respondents and roundtable participants say that they incorporate governance factors into their investment analysis to a greater extent than they incorporate environmental and social factors.

Reverse Factoring: Undisclosed Borrowing to Smooth Operating Cashflows Volatility

Creditor factoring generally delays payments to creditors to fund a company’s operations. While such arrangements may help companies in smoothing operating cashflow volatility, often it is used as a last resort to manage liquidity problems. Investors find out about this practice only when “other items” in current liabilities become too big to miss when it may be too late to take action.

ESG Integration in Asia Pacific: Markets, Practices, and Data

CFA Institute and the Principles of Responsible Investment (PRI) have released the final report (in a series of four) concerning the current state of global ESG integration.

SpaceX Is Opening Up the Next Frontier for HFT

It has been a few years now since the topic of high-frequency trading (HFT) has garnered mainstream attention, or even much coverage in the financial press.

Green Bonds Pose Challenge to EU Sustainable Finance Initiative

In this podcast, Josina Kamerling, head of regulatory outreach for CFA Institute for Europe, explores the state of the discussion on Green Bonds and what developments investors and policy makers might expect in the coming months and year.

Thailand Leads the Region in ESG Disclosures

Thailand is a leader in APAC in terms of ESG disclosures.

A Rocky Road to Improved Investor Protection

For most of 2018, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry captured the attention of many in Australia. Unfortunately, the issue of mis-selling is a global one.

Dual-Class Shares: The Fear of Missing Out?

The fear of missing out (FOMO) typically refers to the uneasiness that one is not “in-the-know” or is “out of touch” with some social events, experiences, and interactions. 



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