RBC Global Services made the Roll of Honor for Pre Trade in the 2004 Transition Management Survey by the sister publication of Global Custodian, the Us pension fund publication Plan Sponsor. "We are delighted to receive this honour," says Fred
The Financial Supervisory Service (FSS) in Korea has increased the Foreign Ownership Limit (FOL) for broadcasting company stocks from 33% to 49%, following the revision of the Broadcasting Act. It is not clear when the higher limit will become effective.
The parties in the ruling coalition in Japan have approved proposed legislation lifting the ban on banks acting as securities agency brokers, and the dematerialization of stock certificates. This enables the Financial Securities Agency (FSA) to present the bills to
CIBC Mellon says it is cutting Bolivia, Costa Rica, Ecuador, Namibia, Trinidad & Tobago and Tunisia from its global custody network due to inactivity by clients. However, the bank is adding Bulgaria to the network. Bank Austria Creditanstalt will service
FXall, the online foreign exchange trading platform, says that the Mizuho Trust & Custody Services has joined it as a liquidity provider. This means that there are now a total number of 47 banks providing liquidity to FXall. &rdquo The
Marks & Spencer, the ailing British food and clothing retailer, is following the example of General Motors and raising 400 million in the bond markets to cover its pension fund deficit. The company says the fund raising will raise the
JPMorgan Treasury Services says that South African banking group Absa has bought its Web based operational risk management solution, JP Morgan Horizon. "We are extremely excited to be entering the African market with such a respected and noteworthy financial institution,"
Prudential Financial has bought two state owned fund management companies in South Korea for about $300 million. They make the US insurer the largest foreign fund manager in the country, whose fund management industry has assets under management of US$127
The Tokyo Stock Exchange (TSE) is seeking public comment from market participants on plans to introduce free float adjusted indices on TOPIX. TSE is planning to introduce free float adjusted indices on TOPIX during or after 2005. In particular, TSE
The managements of Pekao Bank and BRE Bank, tow of the largest banks in Poland, are understood to be discussing a possible merger. Neither bank would comment. The idea of merger was considered once before, when the main shareholders in