Analysis

Unique insights into shadow banking and opaque markets.

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Research

Data compilation for investors, service providers, and regulators.

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Experience

Market expertise in risks, procedures, and governance.

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Perspective

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

SEC Adopts Final Cross-Border Security-Based Swap Rules

Thursday, July 10, 2014

On June 25, 2014, the Securities and Exchange Commission finalized new rules and interpretive ...
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BIS Sees the Financial System at a Crossroads

BIS's 84th Annual Report Sees Banks Shying from Risk While Asset Managers fill the Gap

Monday, June 30, 2014

In their 84th Annual Report, the Bank for International Settlements examines the current state ...
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Italy’s Mediobanca Equity Sell-off and Privatization Spark Renaissance in Corporate Governance

Sunday, June 15, 2014

The Economist reports that Mediobanca, an Italian investment bank formed in 1946 assist in the ...
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