Investors' Working Group 

IWG Recommends Regulatory Reform   Read the report: U.S. Financial Regulatory Reform: The Investors’ Perspective (PDF)   Submit your comments on the IWG report. We will formulate a position on regulatory reform to reflect the views of our membership.

 

Launched in February 2009, the Investors' Working Group (IWG) is an independent panel formed to provide the investors' voice in the ongoing national debate about overhauling the U.S. system of financial regulation.

 

This diverse, non-partisan panel of experts is co-sponsored by the Council of Institutional Investors and the CFA Institute Centre for Financial Market Integrity.

 

The IWG, co-chaired by former SEC chairmen Arthur Levitt and William Donaldson, CFA, worked over five months to formulate a report and meaningful recommendations that provide practical short-term improvements and longer-term reforms. The group issued its report on 15 July, 2009.

 

Note: This report represents the consensus views of the panel on a myriad of reforms. CFA Institute endorses this report, but reserves the right to disagree on some IWG recommendations based on the input of our membership. We are preparing our own CFA Institute positions on regulatory reform.

 

Learn More:

 

Letters to U.S. Congress

• Letter to the U.S. House of Representatives on Systemic Risk, 9 November 2009 (PDF)
• Letter to the U.S. House of Representatives on Over-the-Counter Derivatives, 29 October 2009 (PDF)
• Letter to the U.S. House of Representatives on Regulation of Credit Rating Agencies, 21 October 2009 (PDF)

 

Survey Results

• U.S. Regulatory Reforms and Feedback on the IWG Report, October 2009 (PDF)
• U.S. Regulatory Reforms, July 2009 (PDF) 

 

Audiocast

Listen to the Investor's Working Group Press Briefing: William H. Donaldson, CFA, and Arthur Levitt Jr. discuss and field questions about the IWG report, 15 July 2009

 

Comparison of Reform Proposals

• Side by Side Analysis of IWG Recommendations and Obama Administration Proposals for Financial Regulatory Reform (PDF)

 

Press Releases

• U.S. Members Support Systemic Risk Oversight Board Proposal, 29 October 2009

• CFA Institute Says U.S. SEC Post-Madoff Report Is Necessary and Encourages Policymakers to Move forward on Investor Protection Reforms, 8 September 2009
• Investor Task Force Urges Reform, Further Study of Financial Regulation, 15 July 2009
• IWG Dismayed and Concerned with Threats to Financial Accounting Standards Board Independence, 2 April 2009
• Donaldson, Levitt to Lead Investor Task Force on Reform of U.S. Financial Market Regulation, 11 February 2009

 

CFA Institute Article

• IWG Report Shows Results, CFA Magazine, September/October 2009 (PDF)

 

IWG Report Media Coverage

• Watch CNBC interviews with William Donaldson and Joe Dear of CalPERS
• Read the article on Bloomberg.com: Investors Say ‘Tarnished’ Fed Shouldn’t Oversee Risk