Views on improving the integrity of global capital markets

Standards and Guidelines

The End of Accounting? Not So Sure

If the information within primary financial statements has had a sustained and troubling decline in its relevance, what's the way forward?

CFA Institute Uses Behavioural Insights to Design a Better Prospectus Summary

Related to one of the first elements of EU’s Capital Markets Union initiative, CFA Institute proposes summary prospectus template that aims to address information overload.

The GIPS Standards Expand into Major Markets

The broad reach of the GIPS standards grows significantly with the addition of GIPS Sponsors in Saudi Arabia and China.

Solving the Conundrum Presented by Non-GAAP Financial Measures

How companies present non-GAAP financial measures can be misleading and can undermine GAAP/IFRS performance measures.

Lok Provides Key Differences in DJIA, S&P 500; Are Investments in Latter Diversified?

Which is the better indicator of the US stock equity market, the DIJA or the S&P 500? Do investments based on the latter carry a different risk profile?

China’s Money Market Reforms Aim to Stem Risk, Allow Funds to Thrive in Fintech Era

The CSRC money market reforms balance innovation and risk, consider public feedback, and are the first refinements to a set of rulings drafted in 2004. Will they thrive?

CFA Institute Standards: What Is Stance on Funds That Skip Traditional Analysis?

True or False: The principles of diligence and reasonable basis, addressed in our Code of Ethics and Standards of Practice, can apply to any investment strategy, any time, present or future.

From Stocks and Bonds to Crowdfunding, China’s Capital Markets Regulatory Scene

Chinese regulators are now seeking comments on how P2P platforms should operate and grappling with findings of a private equity practices report — there are problems.

Portfolio Pumping in Singapore — What the Numbers Tell Us

Eleven years of tick-by-tick data, 12 billion data points, and 189 companies later … what our first-of-its-kind study in the Asia-Pacific region reveals, and what policy we recommend.

Portfolio Pumping in Singapore — Myth or Reality?

Eleven years of tick-by-tick data, 12 billion data points, and 189 companies later … what our first-of-its-kind study in the Asia-Pacific region shows.

Gratitude or Bonus: How Investment Professionals Should Handle Offers from Clients

Investment professionals should assess their employer's rules before accepting client gifts and bonuses. CFA Institute also offers guidance.

Court Muddies Water on Insider Trading, but CFA Institute Code and Standards Are Clear

Despite courts’ waffling on insider trading, the CFA Institute Code and Standards are constant: If you know the information is material and not in the public domain, don’t trade or cause others to trade by disclosing it.

Top 10 Posts from 2014: Dual-Class Shares, Bank Performance Reporting, “Flash Boys”

From the Alibaba IPO to Michael Lewis’ controversial book on high-frequency trading, a list of the top 10 most-read blog posts from Market Integrity Insights in 2014.

SEC Disclosure Effectiveness Initiative: Investors Seek Clarity on Forward-Looking Information

Artificial boundaries regarding where to provide additional forward-looking information limits needed improvements to financial reporting information.

Investors to IASB: Presentation of Financial Statements Must Address Our Concerns

CFA Institute supports financial statement presentation reforms but is concerned that proposed updates primarily reflect preparer sentiments.

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