Ernst & Young Monthly News June 2009
Media
(News Release, HTML, English)
«Ernst & Young Fraud survey» reveals alarmingly high tolerance of unethical business behavior in Switzerland.
(News Release, HTML, English)
Ernst & Young guide outlines key tax trends in fiscal stimulus packages across the world
(PDF, French, 75 kB)
Source: L'Agéfi, 20 April 2009
Authors: Barbara Ofner, Stéphane Muller, Ernst & Young
The financial crisis has obliged a large number of hedge fund managers to liquidate their funds or to limit the buying back of funds
in order to protect the interests of investors. Many funds also have a large proportion of illiquid assets. In order to tackle these
problems, foreign collective investment schemes have often resorted to creating side pockets.
Selecting Credit Rating Models: A Cross-Validation-Based Comparison of Discriminatory Power
(English, please contact Marc Ryser for full article details)
Source: Financial Markets & Portfolio Management (2/09)
Authors: Marc Ryser, Stefan Denzler, Ernst & Young
Abstract: In commercial banking, various statistical models for corporate credit rating have been theoretically promoted and applied
to bank-specific credit portfolios. In this paper, we empirically compare and test the performance of a wide range of parametric and
nonparametric credit rating model approaches in a statistically coherent way, based on a ‘real-world’ data set.
(PDF, German, 255 kB)
Source: Swiss Equity Magazin, 15. Mai 2009
Authors: Iqbal Khan, Christian Röthlin, Ernst & Young
The main concern of financial services providers is that the services and financial instruments they are recommending are, in fact, “suitable”
for their clients.