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

SEC Announces February 19 Proxy Roundtable

Tuesday, January 27, 2015

Today, the Securities and Exchange Commission announced that it will hold a February 19 public ...

SEC Adopts New Rules Governing Security-Based Swaps Transactions

Wednesday, January 21, 2015

The SEC has issued final rules governing security-based swap data repositories (SDRs) ...

Open Consultation Papers and Rule Proposals: Winter 2014/15

Tuesday, January 06, 2015

The global regulatory calendar for the first quarter of 2015 includes comment deadlines for a ...