UK actuaries Lane Clark & Peacock say the UK government's pension bill, which includes plans for a UK version of the American Pensions Benefits Guaranty Corporation (PBGC) lacks simplicity, security and choice. On the contrary, they warn, the Bill could
The Bank of New York has been selected as successor depositary for the Fomento Economico Mexicano, S.A de C.V. (FEMSA) American depositary receipt (ADR) facility. Each FEMSA ADR represents ten units. The units trade in Mexico on the Bolsa Mexicana
Mercer Consulting says the Pension Protection Fund (PPF) proposed in the UK government's long awaited Pensions Bill, published today, may not be affordable. "The introduction of the PPF is a bold move by Government, aimed at restoring member confidence in
The Bank of New York has been appointed by the Virgin Islands Public Finance Authority as trustee, registrar and paying agent for its $268,020,000 Gross Receipts Taxes Loan Note, Series 2003 Bonds. The Virgin Islands Public Finance Authority is an
The Institutional Money Marke Funds Association (IMMFA) today announced that Donald Aiken, Head of Cash Services at Scottish Widows Investment Partnership, takes over as Treasurer of IMMFA from Charles Spungin. Aiken was voted in unanimously at a meeting of members.
The Bank of New York is expanding its presence in China with the opening of a representative office in Beijing. The Beijing office will promote a variety of products and services, including depositary receipts, custody, global payments, trade finance, execution,
Doug Boit, Head of Research Director at COR STP Solutions, a division of COR Financial Solutions, has been voted in as vendor representative on the ISITC Europe Executive Committee. He will be formally welcomed at the first ISITC Quarterly meeting
Deutsche Bordse says the liquidity and number of trading participants in the trading of Dutch equities on Xetra has increased substantially since the Dutch segment, Xetra Dutch Stars, was launched three months ago. The average order size has tripled to
The Bank of New York has been ranked as the leading overall trustee for new debt issues for the U.S. taxable and long term municipal debt markets during 2003, according to data compiled by Thomson Financial. This is the third
Geoff Edwards, one of he best known figures in the securities services industry through his stints at Cedel (as was) and SWIFT, has announced that he will be retiring at the end of April. "It will enable me to spend