The Japanese regulator, the Financial Services Agency (FSA), has issued proposals designed to strengthen its surveillance of the securities industry. According to a report in Nihon Keizai Shimbun on Thursday, the FSA wants to beef up the surveillance systems of
Foreign investors owned 21.8% of Japanese stocks at the end of March 2004, according to data released by the Tokyo Stock Exchange and the Ministry of Finance. This ratio is up 4.1 percentage points year on year. The foreign ownership
ABN AMRO has been awarded a mandate by FirstRand Bank for third and fourth party CLS services in South Africa. The mandate covers FirstRand's operations in South Africa as well as its African subsidiaries and will see FirstRand becoming one
Bidders for South Korea's SK Life Insurance Co. offered about 400 billion won ($346 million) to buy the insurer, Maeil Business Newspaper reported yesterday. The newspaper said MetLife, HSBC and Manulife Financial were likely to be picked as preferred bidders.
Britain's pension market will grow 40 percent to nearly Euros 115 billion (75 billions) in the next four years, as people move to supplement their state pensions and tax advantages increase. Britain accounts for 30 percent of the total market
The Luxembourg Government has abolished its 0.01% subscription tax for multi national corporations who wish to establish investment vehicles in Luxembourg to pool their cross border pension assets. Northern Trust, which welcomed the move, said it recognised the need of
JPMorgan Treasury Services has implemented the global derivatives business of Prudential Financial, Inc. (PFI) of the United States, as a CLS third party participant. PFI completed settlement with the Chicago Mercantile Exchange (CME) and the New York Clearing Corporation (NYCC)
American private equity specialists Carlyle Group has formed a consortium with American International Group jointly to make final bids for two South Korean asset managers, according to a Reuters report. British insurer Prudential has also submitted binding bids in a
Eureko may make acquisitions in emerging markets with the 250 million pounds ($455 million) cash it got from merging its F&C asset management unit with Britain's ISIS. Eureko, which is now focused on insurance activities, sold most of its stake
UnionBanCal Corp, the parent of Union Bank of California, is to buy Jackson Federal Bank from Britain's Prudential insurance company for $305 million, adding 14 branches in Southern California. Union Bank of California will pay $167.75 million in cash and