The need for empowering investors to have information on the way their own money is invested is not going away.
Requiring fund managers to disclose how they vote would increase accountability and mean that pensioners and ordinary investors would more easily be able to see how those acting on their behalf vote on all issues, including remuneration.
There are two kinds of investors, be thay large or small: those who don't know where the market is headed, and those who don't know that they don't know.
The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.
If the investor is uneducated, anything he or she invests in will be risky. So it's not the investment that is risky. It's the investor.
There is not necessarily a good reason why a regulator should have to be involved in product design and marketing for rich and sophisticated investors. We recommend that such investors should be able to sign a piece of paper, which allows them to go ahead and buy unregulated products at their own risk.
Fraud will always exist. Enforcement of anti-fraud laws is a useful deterrent, but in the end there's no substitute for investor vigilance. Government regulations provide a false sense of security - and that's worth less than no sense of security at all.
What must occur is a greater recognition by investors of their individual responsibility.
