Polish National Depository for Securities (NDS) has recently amended its regulations to allow Free of Payment (FoP) settlement between the final client and a foreign broker in transactions concluded under the provisions of Article 34A of the Public Trading Law.
Bank of Bermuda (Isle of Man) Limited, now owned by HSBC Holdings plc, has acquired the offshore fund administration and management business of BoE with the purchase of the entire share capital of BoE International Fund Services Limited and BoE
Penson Worldwide has forged an introducing carrying broker agreement with Orion Securities Inc. Since the agreement was signed in the second quarter of 2004, Penson has been providing clearing, settlement, custody, bookkeeping and administration for Orion's Canadian wide accounts. Orion's
Shares of the Hungarian software company, Freesoft, are to be listed on the Budapest Stock Exchange (BSE) starting September 22, 2004. This is the first new issue on the BSE since last year when FHB shares were introduced. The details
After a recent inspection of Citibank Japan's operations, the Financial Services Agency of Japan (FSA) has sanctioned the company. In a report issued in May 2004, FSA found that there were fundamental problems in Citibank Japan's internal controls and governance
Growth seeking investors can't afford to ignore China according to Winson Fong, manager of SG Asset Management's Sogelux Equities China Fund. "The size of the Chinese economy surpassed Italy to rank 6th in 2002. It has 12% market share in
Northern Trust has been selected by Swedish insurance giant Folksam as sole global custodian for all of Folksam's US$17 billion in insurance assets and mutual funds. In addition, Northern Trust will provide trustee services to Folksam via an agreement with
Penson Worldwide the Dallas based provider of outsourcing services to private banks, wealth managers, hedge funds and broker dealers says it has received an investment of $25 million from Technology Crossover Ventures (TCV), a Silicon Valley based private equity firm.
Mellon Financial Corporation's Human Resources & Investor Solutions (HR&IS) business has this week called for the establishment of a new pensions authority in the UK. It says the authority should consist of experts from the pensions industry, and that it
The Financial Services Agency (FSA) in Tokyo financial regulator may suspend or even end some private banking operations at the Japanese commercial banking unit of Citigroup Inc. due to lost customer data and questionable securities transactions, according to a report