The Financial Services Authority (FSA) has fined Credit Suisse First Boston International (CSFBi) 4 million for attempting to mislead the Japanese regulatory and tax authorities. This is the highest fine ever imposed by a UK financial regulator. Formerly called Credit
The London Clearing House Limited (LCH) announced today that it has launched a clearing service for OTC power transactions through its LCH EnClear service. The London based clearing house is working with the European Energy Derivatives Exchange N.V. ("Endex") and
The Sierra Club an American environmental pressure group with 700,000 members has teamed up with Forward Management to offer its members and other Green enthusiasts mutual funds. The Sierra Club Funds will select securities for potential investment based on environmental
SWIFT announced today that Gartmore Investment Management and Dresdner Kleinwort Wasserstein Securities (DrKW) are using the SWIFTNet FIX service to communicate FIX allocations. They are the first fund manager and broker dealer to make the transition from the SWIFTNet pilot
Morgan Stanley and BISYS today announced a strategic alliance to provide self employed business owners with stronger and more efficient retirement programs through the Morgan Stanley Individual(k) Program. The alliance will see the Morgan Stanley Individual(k) program use BISYS technology
Mellon today announced the replacement of Harley Murphy by Kevin Potts as Managing Director of its offshore fund administration business in Dublin. Potts was previously Managing Director of BNP Paribas Fund Services (Ireland) Limited and, before that, a Group Manager
BISYS says it is expanding its capabilities to support principal protection funds, which guarantee investors return of principal, to help clients to enter the market. BISYS has also observed that in current market conditions principal protection funds are growing quickly,
The troubles at Dresdner Bank have finally prompted change at the top of parent Allianz. It was announced today that Henning Schulte Noelle (60) will resign his position as Chairman of the Board of Management of Allianz AG at the
Computershare announced today that it has agreed to acquire the software rights to trading, settlement and clearing systems owned by EFA Software Services. The acquisition ,which is expected to close by the end of January 2003, will cost C$6.25 million
JPMorgan Investor Services announced today that it had been selected, after a competitive bid process, by OppenheimerFunds, Inc. as a service provider for their mutual fund assets. The bank will provide a wide range of services to over $35 billion