office (610) 570-0032
The picture on top left is the Tokyo Stock Exchange (TSE) now. The one to the right is what the TSE looked like in 1990 - prior to technological innovations that have transformed it into a more efficient platform for issuers, traders, and investors. The complexion of the the NYSE floor and other exchanges world-wide are evolving in a similar fashion.
Financial Market Reform
Since 1992, Cliff has worked as a consultant in financial market
reform projects. He began his international work with the
International Privatization Group of PricewaterhouseCoopers.
Projects involving a wide range of legal systems and cultures in a
large number of foreign financial markets are mostly funded by the
World Bank, the ADB and USAID. The project goals
were to develop and adopt international standards and best practices
and to improve transparency and efficiency in the operations and
regulation of a number of foreign financial markets in their
government supervisory and regulatory authorities, stock exchanges,
depositories, brokerage companies, mutual funds, and issuers.
Cliff Kennedy uses IOSCO, OECD, European Directives and other
international standards and best practices that are
continuously updated. In his
project consultancies, Cliff Kennedy
also has uses his extensive regulatory, enforcement, investigation
and litigation experience gained as a former attorney and as a
Regional Director with
the