Asset management standards are crucial for building trust between investors and capital market experts. The issue of corporate governance has been thrown into the spotlight by the disastrous collapse of Enron and the implications for the industry. The proposed standards are relevant for the entire fund industry, regulators, providers of pension plans and portfolio managers. Produced in association with the European Federation of Financial Analysts Societies, this book aims to provide a well-founded basis for development of the content of asset management standards in the UK, the US and the EU. It contains a detailed overview of the current position, outlines planned developments and discusses underlying problems.

Autorentext

OTTO LOISTL is Chairman of the Department of Investment Banking and Capital Markets Communication at the Vienna University of Economics and Business Administration in Austria. He is author of numerous publications on the capital markets.

ROBERT PETRAG is a member of staff of the Department of Investment Banking and Capital Markets Communication at the Vienna University of Economics and Business Administration in Austria.

Inhalt

SETTING THE SCENE Introduction THE SCENARIO TODAY Structural Change in the Asset Management Business in the EU The Basis for Asset Management Standards in the Euro Zone STRUCTURAL COMPONENTS OF THE SYSTEMATIC CLASSIFICATION OF THE SYNOPSIS Investor Risk Rules for Reducing Investor Risk THE REGULATION OF MANAGEMENT RISK Investment Rules Separation of Functions Disclosure THE REGULATION OF INVESTMENT RISK Investment Rules Disclosure CONTROL AND ENFORCEMENT OF RULES AND REGULATIONS Board of Directors Supervisory Authority The Management Company's Compliance Department Shareholders Other Parties Involved in Supervision SUMMARY OF FINDINGS