UK wealth manager St. James's Place Capital is ridding itself of a stake in a life assurance company that contributed to it posting a loss in 2002, the company said on Thursday. St. James's Place is selling its 23 percent
ATP, Denmark's largest pension scheme administrator, has chosen Euroclear's FundSettle as its pan European processing platform for all non Danish fund transactions, as part of its new special savings scheme. Folkeboersen (People's Exchange) goes live on 1 January 2005 and
Clearstream's Vestima+ platform will connect to BNP Paribas Securities Services as centralising agent for their mandated French mutual funds. Through this service, any fund distributor using a normal Clearstream Banking Luxembourg account will be able to settle orders through a
Five US brokerage houses are to pay a total of $625,000 in fines to settle allegations by the National Association of Securities Dealers (NASD) that they failed to halt late and unlawful trading in mutual funds. The Washington based self
UK brokers and IFAs that fail to harness the potential of e commerce will be driven out of business by tech savvy rivals. These so called "Techno Savvies" are now the UK broker markets' dominant group, representing about a third
The decision by the US Securities and Exchange Commission (SEC) that mutual fund companies must have chairmen independent of the fund managers is likely tro lead to a change at the top at four out of five companies. The SEC
US stock and bond funds experienced net outflows of $11 billion in May, according to new data from FRC.International global funds led the way with net inflows of $2.4 billion while Domestic Equity experienced net outflows of $449 million. American
General Electric (GE) is bringing all of its retail finance businesses under one global brand as it prepares to expand its consumer banking business, according to a report in the Financial Times. The business, to be known as GE Money,
Isle of Man Treasury Minister Allan Bell today welcomed Standard & Poor's renewal of the island's AAA long term sovereign credit and senior unsecured debt ratings. In addition, the short term sovereign credit rating was reaffirmed as 'A 1+'. Bell
The former chief executive of Putnam Investments, who was ousted after the market timing scandal erupted at the Marsh & Mclennan owned mutual fund manager, will receive $78 million in compensation. Lawrence Lasser and Putnam entered into arbitration in January