The Changing Dynamics of Global Capital Markets

In light of all of the recent market turmoil, the importance of transparency and risk management has certainly been elevated. These issues along with some of the shifts in global capital markets activity are at the center of a speech delivered by my CEO at Ernst & Young, Jim Turley, to a Washington D.C. audience at the U.S. Chamber’s 2nd Annual Capital Markets Summit. The speech describes how the interconnected, complex, and dynamic nature of global capital markets is demanding greater transparency, increased focus on risk management, and development of common standards and practices around the globe. Jim suggested the launch of a sustained multi-party dialogue — some mechanism involving issuers, auditors, and investors as well as governments and regulators — to facilitate a private and public sector dialogue that would monitor, assess, and address the challenges of operating in global capital markets and help to identify best practices. Tackling these issues could set a foundation for higher levels of investor confidence. The full text of the speech is available here.