FIN 335 Milestone Three Guidelines and Rubric
The final project for this course is the creation of a market analysis report that analyzes various organized global and domestic exchange markets and compares
and contrasts performance for different investment products.
In this milestone, you will submit a draft of Oversight and Governance (Section III) of the final project. You will explain how different markets are regulated, by
which agencies, and how that might impact decisions on which market(s) to list in. Rules, regulations, and regulators of U.S. and international exchanges should
be explored, which were discussed in Module Three. In addition, you will research listing in multiple markets and how interest rates may affect one market over
another.
Specifically, the following critical elements must be addressed:
III. Oversight and Governance. Use this section to explain how different markets are regulated, by which agencies, and how that might impact decisions on
which market(s) to list in. You must address:
A. U.S. Exchanges. Select a major U.S. exchange(s) that the company you are reviewing could have considered in making its IPO listing decision. If
the company is listed on a specific U.S. exchange, use that market. Be sure to answer:
1. What rules and regulations do companies wishing to list on this U.S. exchange need to follow and how might that affect listing decisions?
Your answer should focus on basic entry and operation standards, including requirements for non-U.S. companies to trade on U.S.
exchanges, citing relevant sources.
2. How are U.S. market regulations enforced and by which agencies? How might the costs of compliance and consequences of noncompliance have affected the company’s listing decision? Justify your response.
B. International Exchanges. Select a major non-U.S. exchange(s) that the company you selected could have considered in making its IPO listing
decision. If the company is listed on a specific non-U.S. exchange, use that market. Specifically:
1. How can you determine the rules, regulations, and oversight bodies for this non-U.S. market? In other words, where would you look to
find this information and how would you know to look there? Support your response with concrete examples.
2. What rules and regulations do companies wishing to list on this non-U.S. exchange need to follow and how is compliance enforced? How
might those factors have affected the company’s decision? Your answer should focus on how basic market requirements and compliance
mechanisms are (or are not) different than those for U.S. exchanges, citing relevant sources.
C. Multiple Markets. Analyze whether the selected company should or should not have considered listing its initial public offering (IPO) in more
than one market. Justify your response. For example, can a company legally list in more than one market? If so, under what conditions? What are
the risks and returns for attracting individual and corporate investors?
D. Interest. Analyze how interest rate policies and announcements affect returns and decisions about listing in the two markets you selected.
Provide specific examples to illustrate your answer. For example, how are interest rates determined in U.S. versus non-U.S. markets? How do
governments use interest rate decisions to try to influence the markets under different conditions?
Guidelines for Submission: Your paper must be submitted as a three- to four-page Microsoft Word document with double spacing, 12-point Times New Roman
font, one-inch margins, and at least two sources cited in APA format.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Oversight: Rules Determines how rules and regulations
for listing on U.S. exchanges affect listing
decisions, focusing on basic entry and
operation standards and citing relevant
sources
Determines how rules and regulations
for listing on U.S. exchanges affect listing
decisions, but does not focus on basic
entry and operation standards or cite
relevant sources, or response contains
inaccuracies or omits key details
Does not determine how rules and
regulations for listing on U.S. exchanges
affect listing decisions
15
Oversight: Enforced Determines how U.S. market compliance
mechanisms, costs, and consequences
might affect listing decision
Determines how U.S. market compliance
mechanisms, costs, and consequences
might affect listing decision, but
response contains inaccuracies or omits
key details
Does not determine how U.S. market
compliance mechanisms, costs, and
consequences might affect listing
decision
15
Oversight:
International:
Determine
Explains how to determine rules,
regulations, and oversight bodies for
non-U.S. markets, supporting response
with concrete examples
Explains how to determine rules,
regulations, and oversight bodies for
non-U.S. markets, supporting response
with examples, but response contains
inaccuracies or omits key details, or
examples are not relevant
Does not explain how to determine
rules, regulations, and oversight bodies
for non-U.S. markets, supporting
response with examples
15
Oversight:
International:
Regulations
Determines how parameters for listing
on non-U.S. exchanges affect listing
decisions, focusing on how basic entry
and operation standards are (or are not)
different than for U.S. exchanges, citing
relevant sources
Determines how parameters for listing
on non-U.S. exchanges affect listing
decisions, but does not focus on
differences with U.S. exchanges (or lack
thereof), cite relevant sources, or
response contains inaccuracies or omits
key details
Does not determine how parameters for
listing on non-U.S. exchanges affect
listing decisions
15
Oversight: Multiple
Markets
Analyzes whether the company should
or should not have considered listing its
IPO in more than one market, justifying
response
Analyzes whether the company should
or should not have considered listing its
IPO in more than one market, justifying
response, but response contains
inaccuracies, omits key details, or
justification is illogical or irrelevant
Does not analyze whether the company
should or should not have considered
listing its IPO in more than one market
15
Oversight: Interest Analyzes how interest rate policies and
announcements affect returns and
decisions about listing in the two
markets selected, providing specific
examples to illustrate answer
Analyzes how interest rate policies and
announcements affect returns and
decisions about listing in the two
markets selected, providing specific
examples, but response contains
inaccuracies or examples are not
relevant
Does not analyze how interest rate
policies and announcements affect
returns and decisions about listing in
two markets selected
15
Articulation of
Response
Submission has no major errors related
to citations, grammar, spelling, syntax, or
organization
Submission has multiple errors related
to citations, grammar, spelling, syntax, or
organization that negatively impact
readability and articulation of main ideas
Submission has critical errors related to
citations, grammar, spelling, syntax, or
organization that prevent understanding
of ideas
10
Earned Total 100%
