The European Commission has adopted a technical Regulation implementing the Prospectus Directive (see IP 03 1018) and a technical Directive including a second set of measures implementing the Market Abuse Directive (see IP 02 1789). Both of these measures are
The Securities Institute which runs qualification examinations in, among other things, custody and fund administration is switching from pencil and paper exams to on screen testing. As the principal awarding body for examinations for the securities and investment industry the
London Pension Funds Authority (LPFA) has reappointed JPMorgan Investor Services (JPMIS) as global custodian for its £2.8 billion portfolio for another three year stint. JPMIS will also continue to provide investment accounting services and discretionary securities lending activities to the
John Hancock Financial Services has expanded its relationship with JPMorgan Investor Services (JPMIS) by awarding the bank custodianship of $30 billion of general account assets. John Hancock Financial Services, one of the largest insurance and financial services companies in the
ABN AMRO announced today that it has accepted United Overseas Bank's (UOB) for its 80.77% stake in Bank of Asia. ABN AMRO and UOB have signed an exclusivity agreement to negotiate, finalize and execute the sale and purchase agreement as
Portfolio managers can profit from using derivatives satellite portfolios as portable alpha and beta vehicles in absolute return strategies, according to research done by Edhec Risk and Asset Management Research Center and Eurex. These portfolios, based on active asset or
Pooled balanced funds earned a median 1.1% return in the first quarter, extending the recovery that began in 2003 when they earned an average of 18.1%, the first positive return in four calendar years, according to a report issued this
The Bank of New York has been appointed by insurer Endurance Specialty Holdings Limited to provide custody and securities lending services for its domestic and international assets.
VP Securities Services (VP) chairman Sven Lystbk lauded the current consolidation between central securities depositories (CSDs) in the Nordic countries when addressing shareholders at the company's annual meeting. "For years, VP has discussed consolidation among CSDs. The recent Letter of
Admiral Group, a British car insurance company, is talking to banks about a possible initial public offering later this year. The Cardiff, Wales based firm could be worth between GBP 60 and GP 800 million. Admiral is owned by Barclays