Unique insights into shadow banking and opaque markets.

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Data compilation for investors, service providers, and regulators.

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Market expertise in risks, procedures, and governance.

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Policy trends in global capital markets.

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Bringing Clarity to Opaque Markets

The Center for the Study of Financial Market Evolution (CSFME) is an independent, nonprofit organization whose mission is to improve transparency, reduce risks, support research, and promote sound regulation of financial markets. It does so by conducting data-driven analysis, providing investor education and outreach, and supporting regulatory reviews in otherwise opaque markets. It serves individual and institutional investors, banks, brokers, other financial market participants, academic institutions, and government regulatory agencies.

Lender Directed Voting

Lender Directed Voting (LDV) is a concept proposed by CSFME to address inefficiencies introduced into the market when lenders of securities' desire or duty to vote proxies comes in conflict with their need to maximize their lending income.  With LDV, investors would no longer have to choose between their corporate governance responsibilities and valuable fee income from securities lending.  LDV provides a mechanism by which those who currently prefer the income would no longer have to forgo their voting rights, while governance-oriented lenders could vote their proxies and still generate revenues from securities lending.  Learn more about LDV.   

Blog and News

Shadow Banking: Less is More.

Is Deregulation the Most Effective Way to Deal with Shadow Banking?

Wednesday, October 29, 2014

These heightened capital requirements for licensed banks may trigger even more regulatory ...
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AIG Fights for $308M in Economic Substance Claim

Thursday, October 23, 2014

In 2009, American International Group (AIG) sued the IRS to recover approximately $306 million ...
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FSB Proposes New Framework for Haircuts on Non-Centrally Cleared Securities Financing Transactions

Thursday, October 16, 2014

The Financial Stability Board has published a new “Regulatory Framework for Haircuts on ...
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