Korea’s wealth management industry is in a crisis of trust. To restore investor confidence, regulators, industry organizations, and financial institutions must work together to address the underlying causes of the problems.
The SEC is proposing major changes to the rules governing private markets to help young companies raise capital and to expand retail investor access to private markets. CFA Institute argues that the proposal would weaken investor protections and tip the balance yet further against public markets.
The SEC has proposed to amend the accredited investor definition, which could open the door for eventual recognition of the CFA® charter as a qualifying designation allowing them to participate in private markets.
Financial industries around the world thrive on an incentives-driven model, sometimes to the detriment of investors. This approach has created some issues in Australia. What are other countries doing to raise the level of investor protection?
Policy options open to the European Central Bank to rein in further increases in the value of the euro include cutting interest rates, signaling more quantitative easing or publicly advising against allowing it to rise, a tactic used by former ECB chief Mario Draghi. The euro has gained 10% in value since March, undermining attempts by ECB policymakers to stoke inflation. Bloomberg (tiered subscription model) (09 Sep.)
UK Northern Ireland Minister Brandon Lewis has acknowledged to a session of the UK parliament that the government's plan to change the terms of the Brexit transition deal made with the EU will breach international law. Theresa May, a former British prime minister, asked how the government could "reassure future international partners that the UK can be trusted to abide by the legal obligations of the agreements it signs?" Bloomberg (tiered subscription model) (08 Sep.)
The newest coronavirus aid proposal from Senate Republican leaders drops assistance for airlines and airports that was included in an earlier version. When the initial $25 billion of airline payroll support runs out this month more than 35,000 airline workers are on track to lose their jobs. Reuters (08 Sep.)
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