Share Event

Passive Investing and Corporate Governance

Friday, November 9 | 11:30 AM – 2:30 PM

REGISTRATION & FEES

TO ATTEND

Free For Members and Nonmembers

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LOCATION

Bloomberg
120 Park Avenue,
New York, NY 10016. 22nd Fl

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Financial Reporting and Analysis Group

Overview

CFA Society of New York is hoping to bring a program in the fall of 2018 discussing the interaction of passive investing and corporate governance. Increasingly companies, especially those considered high tech, are limiting governance rights of shareholders purchasing shares after the company has become public.

Corporate management is attempting to both take advantage of public market capital and liquidity while keeping tight control over the company’s governance. This especially leaves passive index-oriented investors in a bind: is it appropriate to invest in companies where most shareholders have at best limited governance rights?

  • Corporate management: How much control should they be permitted to keep, for how long and at what cost?
  • Bankers: What is the appropriate role of bankers mediating between current management and future shareholders?
  • States and Regulators: Who should states represent in setting the ground rules for corporate management? What rules are and are not acceptable? What is the proper role of the Securities and Exchange Commission in this situation?
  • Stock Exchanges: Is the role of the exchange to enforce minimum listing requirements for corporate governance and what should they be?
  • Index providers: Should companies with abusive corporate governance be excluded or limited from inclusion in market indices tracked by passive investors?
  • Index fund managers: What role should they play in this drama as they represent the ultimate investors.

Learning Outcome Statements

  • Learn experts’ opinions about actions that could be taken when corporations have abusive corporate governance.

  • Participants will hear opinions on if exchanges should enforce minimum listing requirements for corporate governance.
  • Participants will hear from governance experts on corporate managements who do not give normal voting rights to all shareholders.

Agenda

11:15 AM | REGISTRATION

11:45 AM | WELCOMING REMARKS

Introduction of Keynote Speaker

Andrew Auslander, CFA, FRM

11:50 PM | KEYNOTE SPEAKER

Commissioner Robert J. Jackson Jr.
Securities and Exchange Commission (SEC)

1:00 PM | NETWORKING LUNCH

1:30 PM | INTRODUCTION OF PANEL
Arthur Fliegelman, CFA, Chair, CFA Society New York’s Financial Reporting and Analysis Group

1:35 PM | PANEL DISCUSSION

Moderator

Rachel Evans, Bloomberg

Panelists

Matt Orsagh, CFA,CIPM, Director, Capital Markets Policy, CFA Institute
Ken Bertsch, JD, Executive Director, Council of Institutional Investors
Craig Feldman, Executive Director, Global Head of Index management Research, MSCI
Professor John Coffee, Adolf A. Berle Professor of Law and director of the Center on Corporate Governance at Columbia Law School
Emiliano Rabinovich, CFA, Vice President, State Street Global Advisors
Fiona Bassett, Global Co-Head, Passive Asset Management & Product group for DWS Group

2:45 PM | Networking

DISCLAIMER OF ENDORSEMENT References herein to any specific sponsor or service do not necessarily constitute or imply the endorsement, recommendation or favoring by CFA Society New York. CFA Society New York strives to be a community for diverse opinions and differing perspectives, and the views and opinions expressed by speakers, presenters and/or organizers at events do not necessarily state or reflect those of CFA Society New York. CFA Society New York expects all attendees to comply with CFA Society New York’s Code of Conduct while attending CFA Society New York events or meetings. CFA Society New York expressly reserves the right, in its sole discretion, to grant or deny access to any individual, or to expel any individual from any CFA Society New York event or meeting.

The CFA Society New York, Inc. (“CFANY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFANY seeks to present accurate and reliable information, CFANY does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFANY has no duty to update and maintain the information, reports, or statements made during events. The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you. None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund. CFANY is not responsible for any investment decision made by you. You should not make any financial, investment, trading or other decision based upon any of the information presented at CFANY without undertaking your own independent due diligence and consulting with a qualified and registered securities professional. You understand that your use of any of the information presented at CFANY is at your own risk. There is a substantial amount of risk in trading securities, and the possibility exists that you can lose all, most or a portion of your capital. CFANY does not, cannot, and will not assess or guarantee the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The securities mentioned in any CFANY presentation may not be suitable for investors depending on their specific investment objectives and financial condition.

Sponsorship Overview

For over 80 years, CFA Society New York—formerly known as New York Society of Security Analysts (NYSSA)—has been a leading forum for the exchange of information among investment professionals. Our mission is to raise standards of practice in the industry for the ultimate benefit of society. Towards that goal, CFA Society New York content is curated by volunteer practitioner interest groups that strive to shape the future of the industry. A bold line exists between the financial support by organizations to maintain the quality of our programming and the selection of speakers who contribute to dialogue in our community. To that end, a ceaseless commitment to transparency is something we consider foundational to our cause.

Please be advised of the following information related to Society sponsorship and support:

Through financial support and other means of in-kind support, each event sponsor, event partner, event co-host and organizational partner of CFA Society New York plays a valuable role in the furtherance of the range of forward-thinking initiatives that underpin the Society’s values, and toward our mission to deliver Society content and programming of the highest quality and standard.

CFA Society New York thanks all of its sponsors, event-related affiliates and organizational partners for helping us continue to shape the conversation of the investment community.

Legal Notice and Disclaimer

CFA Society New York (including its employees and agents) assumes no responsibility for presenters or consequences resulting from the use of information or content of such information presented, including (but not limited to) errors or omissions, the accuracy or reasonableness of factual or scientific assumptions, studies or conclusions, the defamatory nature of statements, ownership of copyright or other intellectual property rights, and the violation of property, privacy, or personal rights of others. The CFA Society New York is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on such information. No guarantees or warranties, including (but not limited to) any express or implied warranties of merchantability or fitness for a particular use or purpose, are made by CFA Society New York with respect to such information. CFA Society New York does not endorse, approve, or certify such information, nor does it guarantee the accuracy, completeness, efficacy, timeliness, or correct sequencing of such information. All presentations represent the opinions of the presenters and do not represent the position or the opinion of CFA Society New York or its members. Reference by the presenters to any specific commercial product, process or service by trade name, trademark, service mark, manufacturer, and corporation or otherwise does not constitute or imply endorsement, recommendation, or favoring by CFA Society New York.

CFA Society New York strives to be a community for diverse opinions and differing perspectives, and the views and opinions expressed by speakers, presenters and/or organizers at events do not necessarily state or reflect those of CFA Society New York.

CFA Society New York expects all attendees to comply with CFA Society New York’s Code of Conduct while attending CFA Society New York events or meetings. CFA Society New York expressly reserves the right, in its sole discretion, to grant or deny access to any individual, or to expel any individual from any CFA Society New York event or meeting.

Inclement weather

CFANY reserves the right to cancel or reschedule all in-person events within 48 hours when inclement weather has been forecasted and travel is restricted by city officials.  The program may also be produced solely via livestream in such circumstances.  Please note the cancellation policy regarding refunds and substitutions.

Refunds, Cancellations, and Substitutions

  • 72 HOURS ADVANCED NOTICE OR MORE:
    • Full refund issued
  • WITHIN 48 HOURS OR AFTER EVENT HAS STARTED:
    • No refund

All requests for cancellation or refunds must be sent to seminars@cfany.org.

More

CFA Society New York, Inc. (“CFA NY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFA NY seeks to present accurate and reliable information, CFA Society New York does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFA Society New York has no duty to update and maintain the information, reports, or statements made during events.

The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you.

None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund.