BANKERSalmanac.com has introduced a new service to help reduce the overheads associated with the provision of due diligence data and completion of statutory compliance checks. The Due Diligence Repository will help banks respond to multiple requests for compliance data by
Dutch pension funds are up 5% this year, according to the WM Company. Its Dutch Pension Fund Index is based on the returns of standard market indices and on the asset allocation of its universe of pension funds as of
Capital Gains Tax is to be introduced on stock exchange transactions at a rate of 25%. The Hungarian Minister of Finance, Tibor Draskovics, announced the move at a press conference on Friday. The Minister of Finance also disclosed plans to
Shares in UK car insurer Admiral Group went higher on Thursday, after the firm launched Britain's second biggest IPO of the year with a £711 million ($1.27 billion) market debut. The flotation provided an average £39,000 pay out for 1,450
Bank of New York subsidiary Pershing is to provide its customers with access to NaviPlan Extended, a financial planning tool developed by Emerging Information Systems Inc. Pershing says NaviPlan Extended builds upon the capabilities of NaviPlan Standard, which has been
Bank Austria Creditanstalt (BA CA) has reported from Sofia that the Bulgarian Financial Supervisory Commission is likely to appoint the local central securities depository (CSD) as the sole paying agent for the payment of dividends. At present, all Bulgarian companies
The Romanian Parliament has approved a private pension law, to come into effect in early 2008. One of its main stipulations will be the compulsory collection of contributions to private pension funds. Mandatory contributions will be levied on taxpayers who
Kenya's private CFC Bank has acquired the life assurance business of the local unit of the American Life Insurance Company. (ALICO), a subsidiary of American International Group Inc (AIG). CFC said the purchase was aimed at transforming CFC into a
Mellon claimed last week that its Transition Management Services (MTMS) group has completed more than $50 billion in transitions since it was set up in September 2001. Mellon says the total includes 533 asset management restructurings related to asset allocation
In accordance with the terms of its EUR250 million 10.75% Senior Notes due 2014 and its US$610 million 10.625% Senior Notes due 2014, KDG offered to repurchase the notes at a price of 100% of the principal amount plus accrued