Found 25 article(s) for author 'Robert Pozen'

Surge in China internet money funds is risky

Surge in China internet money funds is risky. Robert Pozen, April 7, 2014, Opinion. “The money market fund offered by Alibaba, China’s leading ecommerce company, has gathered the equivalent of $65bn in less than one year…” May require purchase or user account. Link verified June 19, 2014

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Regulators ban advice fees and conflicts

Regulators ban advice fees and conflicts. Robert Pozen, September 8, 2013, Opinion. “Regulators around the world have been focusing on how financial companies deliver advice to their clients. The standards that apply to that advice – especially how it is paid for – have been the subject of recent regulatory initiatives in Australia, the US and Europe. The official goals of these initiatives are to eliminate conflicts of interest that might harm investors, and to help them cope with the increasing complexity of financial markets. Less officially, these initiatives aim to push investors…” May require purchase or user account. Link verified March 28, 2014

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Detroit Has Filed For Bankruptcy. Now What?

Detroit Has Filed For Bankruptcy. Now What?. John Macomber, Robert C. Pozen, Eric D. Werker, July 24, 2013, Opinion. “Once the hub of American manufacturing, Detroit has long been in a state of economic decline. The rubber finally hit the road last week, when the city filed for bankruptcy protection. The challenges ahead for all those people and organizations that call the Motor City home are daunting, from a relentlessly declining tax base to a mountain of pension costs. Three HBS faculty members—John Macomber, Robert Pozen, and Eric Werker—offer their views on some down-the-road scenarios…” Link verified April 4, 2014

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Accounting rule change undermines US banks

Accounting rule change undermines US banks. Robert Pozen, June 30, 2013, Opinion. “While the International Accounting Standards Board sets the rules for public companies in most countries, the Financial Accounting Standards Board sets the rules for public companies in the US. Yet, despite their efforts to co-ordinate, the IASB and FASB have proposed different rules for an important subject – how banks should decide when to expand their reserves against loan losses. We agree that the current rules on loan loss reserves for banks are too narrow and should be changed…”  May require purchase or user account. Link verified March 28, 2014

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Hits and Misses On Money Market Reforms

Hits and Misses On Money Market Reforms. Robert Pozen, June 25, 2013, Opinion. “Many U.S. regulators view money market funds as a key source of systemic risk because of what happened to the Primary Reserve Fund during the 2008 financial crisis. When that Fund’s holdings in the commercial paper of Lehman Brothers went south, the Fund “broke the buck” — leading other investors to redeem the shares of similar money market funds, even if they did not hold any Lehman paper…” Link

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The SEC Gets Money-Fund Reform Half Right

The SEC Gets Money-Fund Reform Half Right. Robert Pozen, June 17, 2013, Opinion. “The Securities and Exchange Commission recently proposed two new rules to help prevent sudden redemptions of money-market shares by investors from wreaking havoc on the financial system. The first proposal, requiring a “floating NAV” (net asset value), deserves support because it is limited to the most risky type of money-market funds: those held mainly by fast-moving institutions and invested largely in prime commercial paper…”  May require purchase or user account. Link verified March 28, 2014

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Complex funds need better risk disclosure

Complex funds need better risk disclosure. Robert Pozen, May 5, 2013, Opinion. “Risk matters as much as return in any mutual fund investment, but assessing the risk of a specific mutual fund can be a challenge. Even though mutual funds have become increasingly complex, their risk disclosure was designed for a simpler era, when funds used only traditional investment strategies. Funds continue to inform investors about risks primarily by using words. In the prospectus sent to fund buyers, funds describe the types of investments they may own….” May require purchase or user account. Link verified June 18, 2014

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New tax provision on deductions won’t hurt charitable giving

New tax provision on deductions won’t hurt charitable giving. Robert Pozen, April 1, 2013, Opinion. “In the recent tax legislation to avoid the fiscal cliff, Congress reinstated a limitation on itemized deductions for affluent taxpayers, known as Pease (after its original author, the late Rep. Donald Pease). Under Pease, itemized deductions are modestly reduced depending on how much a taxpayer’s adjusted gross income exceeds a specified threshold — $250,000 for an individual and $300,000 for a married couple…”  Link verified March 28, 2014

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Corporate-Tax Reform Without Tears

Corporate-Tax Reform Without Tears. Robert Pozen, March 31, 2013, Opinion. “Economists have long recognized the damaging effects of the high U.S. corporate tax—at 35%, the rate is the highest in the industrialized world. Over the past few years, politicians in both parties have come to understand that the corporate tax system itself is dysfunctional, causing resources to be misallocated and encouraging corporations to invest overseas…”  May require purchase or user account. Link verified March 28, 2014

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