Created earlier this month, the Investors' Working Group (IWG) is co-sponsored by the Council of Institutional Investors and the CFA Institute Centre for Financial Market Integrity. Headed by Arthur Levitt Jr.–SEC chairman from 1993 to 2001–and William Donaldson, CFA–chairman of the commission from 2003 to 2005–the task force will issue an initial report and recommendations by late spring.
"Too often, the views of investors get short shrift in discussions about how to modernize our financial regulatory system," said Donaldson in an announcement to the press. "The Investors' Working Group will serve as a critical sounding board for proposals to improve the framework for financial regulation in the wake of the crippling global credit crisis."
The task force results from a belief by both the CFA Institute and the CII that ongoing national discussions about regulatory reform have focused on "containing costs for issuers and dealers in the U.S. capital markets–largely ignoring investor considerations."
