CFA Society Houston

A Member of the CFA Institute Global Network of Societies

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https://www.linkedin.com/groups/CFA-Society-Houston-6606065?gid=6606065   https://twitter.com/CFA_Houston  https://twitter.com/CFA_Houston  

 

​​​​Upcoming Event:​ 
March 1, 2017
11:30 AM - 1:00 PM

The Briar Club
2603 Timmons Lane
Houston, TX 77027

Rules Versus Principles
Andrew S. Fastow
 

Despite today's more regulated and enlightened business environment, we continue to witness "Enron-esque" failures of corporate governance.  Enron's former CFO will make observations about how the ambiguity and complexity of laws and regulations breeds opportunity for problematic decisions and will discuss what questions corporate directors, management, attorneys, and accountants should ask in order to ensure that their companies not only follow the rules, but uphold the principles behind them. 

Mr. Fastow was the Chief Financial Officer of Enron Corp. from 1998 – 2001.  In 2004, he pled guilty to two counts of securities fraud, and was sentenced to six years in federal prison.  He completed his sentence in 2011, and now lives with his family in Houston, Texas.  Mr. Fastow currently provides litigation support at a law firm, and he consults with Directors, attorneys, and hedge funds on how best to identify potentially critical finance, accounting, compensation, and cultural issues.

Mr. Fastow received a BA in Economics and Chinese from Tufts University and an MBA in Finance from the Kellogg Graduate School of Management at Northwestern University.  Prior to joining Enron, he was a Senior Director in the Asset Securitization Group at Continental Bank N.A.

Since his release from prison, Mr. Fastow has been a guest lecturer at universities and corporations, and at conferences for management, corporate directors, attorneys, accountants, and certified fraud examiners. Mr. Fastow was recently keynote speaker at the United Nations' Principles of Responsible Management Education Conference, the FBI's Advanced Financial Crimes Seminar, the Association of Certified Fraud Examiners Annual Conference, the American Accounting Association Annual Conference, and the Financial Times' Outstanding Directors Conference.

Moderator:
Michael McMillan, Ph.D., CPA, CFA
CFA Institute
Director, Society Ethics Trianing



Dr. McMillan joined CFA Institute in October of 2008 after more than a decade as a professor of accounting and finance at Johns Hopkins University's Carey School of Business and George Washington University's School of Business.  Prior to pursuing a career in academia, he was a securities analyst and portfolio manager at Bailard, Biehl, and Kaiser and Merus Capital Management in San Francisco, California.

As the Director of Society Ethics Training, Dr. McMillan is responsible for creating and developing educational content for CFA Institute members and investment professionals in the area of ethics and professional standards.  Prior to joining the Institute, Dr. McMillan served in a variety of volunteer capacities at the CFA Institute.  He was a member of the Council of Examiners for 10 years, and a grader for the CFA Level II and Level III exams for 12 years.

Dr. McMillan is the Treasurer and a member of the board of directors of the Alexandria Police Foundation, which provides resources to Alexandria police officers that improve officer performance, morale, and effectiveness.  He is also the treasurer and a member of the board of directors of Fort Dupont Ice Arena in Washington, DC. 

Prior to joining CFA Institute, he was a Vice President and Treasurer of the CFA Society of Washington, DC.  Currently, he is a member of the Editorial Board of the Journal of Business Research. 

Dr. McMillan has a PhD in accounting and finance from George Washington University, an MBA from Stanford University, and BA from the University Pennsylvania. He is a Chartered Financial Analyst (CFA), a Chartered Investment Counselor, and a Certified Public Accountant (CPA).


 Society Advocacy Efforts

 We are...

CFA Society Houston, founded in 1955. We promote the highest professional and ethical standards within the investment community and maintain ongoing educational and certification opportunities for its members. The Society allows individuals with common interests to advance their professional studies and obtain insight into key areas affecting investments.

We are a volunteer organization boasting 895+ members strong. All agree to abide by our ethics and code of conduct.

 Today at CFA Society Houston...

 Putting Investors First Month

Statement of Investor Rights Ten rights​ that any investor should expect from financial service providers  

The Statement of Investor Rights was developed by CFA Institute to advise buyers of financial service products of the conduct they are entitled to ex​pect from financial service providers.

Investors: Present the Statement to your financial professionals, whether you are establishing an investment plan, working with a broker, openi​ng a bank account, or buying a home.

Financial Professionals: Support the Statement and provide it to your ​​clients to show that you are committed to fundamental ethical principles. Let your clients know that they can trust you to provide the service they expect and deserve.

Putting Investors First 

 STATEMENT OF INVESTOR RIGHTS

WHEN ENGAGING THE SERVICES OF FINANCIAL PROFESSIONALS AND ORGANIZATIONS, I HAVE THE RIGHT TO...

  1. Honest, competent, and ethical conduct that complies with applicable law;
  2. Independent and objective advice and assistance based on informed analysis, prudent judgment, and diligent effort;
  3. My financial interests taking precedence over those of the professional and the organization;
  4. Fair treatment with respect to other clients;
  5. Disclosure of any existing or potential conflicts of interest in providing products or services to me;
  6. Understanding of my circumstances, so that any advice provided is suitable and based on my financial objectives and constraints;
  7. Clear, accurate, complete and timely communications that use plain language and are presented in a format that conveys the information effectively;
  8. An explanation of all fees and costs charged to me, and information showing these expenses to be fair and reasonable;
  9. Confidentially of my information;
  10. Appropriate and complete records to support the work done on my behalf.​​​​​
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