NSFM Participants named to SEC Investor Advisory Committee

Stephen M. Davis and Adam Kanzer, both participants in the Network for
Sustainable Financial Markets, have been appointed to a new SEC Investor
Advisory Committee.  The Committee' charter is broad and includes
advising the SEC on:
(a) matters of concern to investors in the securities markets;
(b) investor perspectives on current, non-enforcement, regulatory
issues; and
(c) information and recommendations to the Commission regarding the
Commission's regulatory programs from the point of view of investors.

Investors Dialogue on Climate Change

There are strong grounds for thinking that one of the next "predictable surprises" that regulators, investors and others will miss will be climate change.  For an academic description of how the "predictable surprise" phenomenon works, see http://papers.ssrn.com/sol3/papers.cfm?abstract_id=785990 Two leading experts - Thomas Homer-Dixon & Pavan Sukdhev - recently presented state of the art thinking to senior institutional investment specialists in London.  This meeting was held under Chatham House ru

Prof. Frank Partnoy's Editorial in the New York Times

NSFM Participant Prof. Frank Partnoy's editorial in the May 14, 2009 New York Times evaluates the U.S. proposal to regulate only part of the derivatives market, notwithstanding the role of derivatives in this and many prior financial crises.  For further NSFM participant views on how derivatives, in particular credit default swaps, should be regulated, please see Prof. Janis Sarra's Consultation Paper on the topic, using the link to Consultation Papers to the right.

Towards an Accountable Capitalism

NSFM participant, Stephen Davis, along with Jon Lukomnik and David Pitt-Watson, has authored a Private Sector Opinion brief for the International Finance Corporation's Global Corporate Governance Forum.  Towards an Accountable Capitalism looks at causes of the global credit crisis and offers a roadmap for developing a more sustainable form of capitalism.

Comments in Response to OECD Consultation on Corporate Governance and the Financial Crisis

The Network for Sustainable Financial Markets (“NSFM”) is an international, non-partisan network of finance sector professionals, academics and others dedicated to improving financial market integrity and efficiency.  The NSFM Coordinating Team submits the attached NSFM Consultation Paper No. 2, written by Keith L.

Council of Institutional Investors' White Paper on Regulation of Credit Rating Agencies

The Council of Institutional Investors has released a White Paper written by NSFM participant, Frank Portnoy, on regulation of credit rating agencies. The paper calls for creation of a new Credit Rating Agency Oversight Board and asks Congress to remove the credit rating agencies' current exemption from liability under anti-fraud provisions of the Federal securities laws.