Views on improving the integrity of global capital markets

SEC


Second Quarter 2020 Amid COVID-19: Investor and Audit Committee Considerations

A plethora of non-GAAP and alternative performance measures will arise throughout 2020 to explain the effects of the COVID-19 pandemic. Investors need to critically evaluate the nature of the adjustments, what the resulting measure is meant to communicate, why the new or revised measure is being presented by management, and why the measure is a better or more meaningful measure. This information should be used as a jumping-off point for a conversation with management.

What to Make of the SEC’s Proxy Advice Vote

Some top-line thoughts on the SEC's final ruling on Exemptions from the Proxy Rules for Proxy Voting Advice.

The SEC’s Proposal on Private Markets: Don’t Tip the Balance Further

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 Proxy Adviser Saga Continues: CFA Institute Weighs In on the Latest Contemplated Changes to the SEC Proposal

CFA Institute believes that investors must maintain full control of their proxy voting decisions, including the ability to cast their votes any time they wish. Here's a roundup of CFA Institute positions regarding the SEC's proposal on Amendments to Exemptions from the Proxy Rules for Proxy Voting Advice.

Is the SEC Jeopardizing Financial Analyst Independence?

In recent weeks the Securities and Exchange Commission (SEC) has proposed regulations that in our view will undermine financial analyst independence. As an organization with long-standing leadership on analyst ethics and need for professional independence, we, CFA… READ MORE ›

Investor Forum 2019: Driving Actionable Analytics

XBRL US held Investor Forum 2019: Driving Actionable Analytics in New York on 4 November.

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.

SEC Holds Proxy Process Roundtable — Will Reforms Follow?

On 15 November, the US SEC helda roundtable focused on key aspects of the US proxy system, including proxy voting mechanics and technology, the shareholder proposal process, and the role and regulation of proxy advisory firms.

Starving On the Vine – Our Protector of Investors Gets Short Changed

We need to invest more in the SEC so it can appropriately police the growing complexity of financial markets.

Fiduciary Duty — CFA Institute Issues a Call for Action by SEC

CFA Institute urges three approaches that will clarify that only registered investment advisers can provide personalized investment advice, as well as clarify the role of broker-dealers.

No Third-Party Exams for Investment Advisers

The SEC does not intend to pursue the use of third-party examiners to conduct their investment adviser examinations.

How Will SEC Guidance on Shareowner Proposals Play Out?

SEC's published guidance for Rule 14a-8(i)(7) will affect the ability of issuers to exclude shareowner proposals from the proxy statement.

SEC Examination Interview: What Portfolio Managers and Research Analysts Need to Know

In an SEC examination prompted by aberrations in investment performance, portfolio managers need to articulate their investment strategy and how it’s being implemented.

Regulation in the United States: Too Much, Too Little, or Just Right?

CFA Institute survey results reveal that more than 50% of members who responded believe there is too much regulation in the US financial markets.



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