Ethics debate: Is the Reddit mob fighting for a just cause?

Tuesday 05 October 2021 | 17:00 - 18:00 | Webinar

This session is brought to you by CFA UK's Ethics Steering Committee

Triggered by posts on Reddit, a short squeeze of epic proportions involving stocks of the American video game retailer GameStop unfolded in January. Other “Meme Stocks” (e.g., AMC Entertainment Holdings) as well as cryptocurrencies and metals futures, have experienced similarly dramatic price moves that were at least in part driven by the “Reddit Mob” this year.

While being applauded by some as a means to level the playing field between retail investors and sophisticated hedge funds, concerted investment actions steered by social media platforms raise many ethical questions:

• Do short sellers deserve protection?
• Is the Reddit Mob fighting for a just cause?
• Is this blatant market manipulation for the benefit of a few?
• How can retail investors be protected from gambling with over-hyped Meme Stocks?
• What are the implications for market integrity?
• Is faith in functioning capital markets being eroded?

Please join CFA UK's Ethics Steering Committee and well regarded panel who will be debating key questions like these in this lively webinar.

Where recordings are made, these are a member benefit that are accessed through the member-only platform, CFA UK Discover.

Timings

Registration: 16:55

Event: 17:00 - 18:00

CPD Points: 1.00

Speakers

Marshall, Bailey, OBE, CFA, Chairman, MUFG Securities EMEA 

Marshall Bailey, CFA, has substantial experience of leading complex international committees and boards. His background spans a range of sectors, including banking and capital markets, insurance, and regulation. His career spans over 30 years on three continents. In June 2018 he was made an Officer of the Most Excellent Order of the British Empire (OBE) for his contribution to financial services, and to charity. He cares passionately for financial literacy, market confidence, and good outcomes for investors.

Marshall Bailey is Chairman of MUFG Securities EMEA and Chair of the Financial Services Compensation Scheme, as appointed by the FCA and Bank of England, and serves on the board of CFA Institute. In the past he has been Chairman of CIBC World Markets Plc in London, a representative of the Saudi Arabian Public Investment Fund (PIF) on the board of the largest bank in the Kingdom, National Commercial Bank, Jeddah, where he was Chair the Group Risk Committee, announcing a $15 billion merger with Samba Financial Group.

Karina Karakulova, Senior Manager, CFA Institute Capital Markets Policy

Karina Karakulova, Senior Manager for CFA Institute Capital Markets Policy (AMER), leverages her prior experience in government affairs, public policy and investment management to help formulate policy positions, engagement, and research that advance market integrity, investor protection and industry professionalism.

Karina holds a master’s degree in financial mathematics from the Johns Hopkins Whiting School of Engineering and bachelor’s degrees in economics and mathematics. She is the author of the weekly CFA Institute DC Policy Corner newsletter.

Algy Hall, Associate Editor, Investors' Chronicle magazine

Algy Hall is an Associate Editor of the Investors' Chronicle magazine. He edits the magazine's weekly ideas section and writes its stock screening column. He began his career in financial journalism in 1998 writing for Investment Trust Newsletter. He assisted the founding of financial publisher Citywire where he worked until joining Investors' Chronicle in 2006. He is 2021's CFA UK's journalist of the year.