Month: August 2011

Banking News – SEC Seeks Public Comment on Asset-Backed Issuers and Finance-Related Pools Under Investment Company Act
&nbspThe Securities and Chat Fee today voted across the world to request public comment on the behavior of asset-backed issuers as well as real estate investment trusts (REITs) and other finance-related pools under the Investment Company Act.
SEC.gov Updates: Press Releases – http://www.sec.gov/news/press/2011/2011-176.htm

Banking News – SEC Seeks Public Comment on Use of Derivatives by Mutual Funds and Other Investment Companies
&nbspThe Securities and Chat Fee today voted across the world to seek public comment on a wide range of issues raised by the use of derivatives by mutual funds and other investment companies corresponding under the Investment Company Act.
SEC.gov Updates: Press Releases – http://www.sec.gov/news/press/2011/2011-175.htm

Banking News – SEC Halts Fraud by Manager of Startup Quantitative Hedge Fund
&nbspThe Securities and Chat Fee announced an asset freeze against a Chicago-area money manager and his hedge fund advisory firm that the SEC charged with lying to prospective investors in their startup quantitative hedge fund.
SEC.gov Updates: Press Releases – http://www.sec.gov/news/press/2011/2011-174.htm

Banking News – Fee Rate Advisory #2 for Fiscal Year 2012
&nbspThe Securities and Chat Fee today announced that in fiscal year 2012 the fees that public companies and other issuers pay to catalog their securities with the Fee will be set at $114.60 per million dollars.
SEC.gov Updates: Press Releases – http://www.sec.gov/news/press/2011/2011-173.htm

Banking News – Diamondback fund to pay $1m to SEC
&nbspHedge fund resolves case over inside trader Anthony Scolaro, a former worker who has pleaded guilty to the offence
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/04a0f52c-d41e-11e0-9afc-00144feab49a.html?ftcamp=rss

Banking News – SEC probes mutual funds’ derivative use
&nbspThe US valve is looking at whether derivatives enable funds to exceed investment restrictions on mutual funds set by law
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/cf34602a-d41f-11e0-9afc-00144feab49a.html?ftcamp=rss

Banking News – Swift Trade fined £8m for manipulating prices
&nbspThe FSA says the defunct Canadian company made a profit of £1.75m through its illegal ‘layering’ actions from January 2007 to January 2008
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/a20b59ba-d3e7-11e0-b7eb-00144feab49a.html?ftcamp=rss

Banking News – August blues for Asia’s hedge funds
&nbspEven the region’s favourable nitty-gritty fail to save its hedge funds from a month that was as disastrous for them as for their western peers
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/752c2f6e-d3e2-11e0-b7eb-00144feab49a.html?ftcamp=rss

Banking News – BNY Mellon ousts chief executive Kelly
&nbspBank cites ‘differences in deal with’ over management and appoints 30-year veteran Gerald Hassell as his successor
FT.com – Banks – http://www.ft.com/cms/s/0/dd1b5724-d41b-11e0-9afc-00144feab49a.html?ftcamp=rss

Banking News – Banks to avoid huge shake-up until 2015
&nbspAny major reorganization is dodgy until after the next appointment, even if a legal framework would be place in place sooner
FT.com – Banks – http://www.ft.com/cms/s/0/32acb8de-d3f1-11e0-b7eb-00144feab49a.html?ftcamp=rss

Banking News – Tyrie fears new rules aggravate bank harms
&nbspTreasury group chief points out that new liquidity equipment are being introduced as loans to non-fiscal businesses are falling
FT.com – Banks – http://www.ft.com/cms/s/0/9f3bd29a-d3d9-11e0-bc6b-00144feab49a.html?ftcamp=rss

Banking News – Bank jitters to persist
&nbspThe UK’s banks are jittery. No wonder – their shares have been sinking for months
FT.com – Banks – http://www.ft.com/cms/s/0/5cabc7ba-d405-11e0-b7eb-00144feab49a.html?ftcamp=rss

Banking News – Darling memoirs to expose rift with King
&nbspFormer chancellor calls the Bank of England administrator ‘amazingly persistent and vexing’ and reveals tensions among UK’s fiscal elite
FT.com – Banks – http://www.ft.com/cms/s/0/5a67f0ac-d3f4-11e0-b7eb-00144feab49a.html?ftcamp=rss

Banking News – RBS suffers rise in consumer complaints
&nbspRoyal Bank of Scotland sees an boost in grievances about its core banking air force despite its efforts to improve values
FT.com – Banks – http://www.ft.com/cms/s/0/4af9d23c-d3d3-11e0-bc6b-00144feab49a.html?ftcamp=rss

Banking News – Greek bank seeks urgent circumstances funding
&nbspPiraeus Bank is said to have expected central bank help – thought to be €1bn – in a go highlighting an going up squeeze on the sector
FT.com – Banks – http://www.ft.com/cms/s/0/1f1127ce-d3e7-11e0-b7eb-00144feab49a.html?ftcamp=rss

Banking News – Eurozone banks: avoiding the doom loop
&nbspThe European Central Bank could print enough money to keep banks in affair to avoid an even deeper eurozone crisis
FT.com – Banks – http://www.ft.com/cms/s/3/cb4a92b0-d3dc-11e0-bc6b-00144feab49a.html?ftcamp=rss

Banking News – Cable criticises banks’ ‘special demanding’
&nbspUK affair desk marks banks ‘dishonest in the extreme’ for using the eurozone crisis as a pretext for delaying reforms in the sector
FT.com – Banks – http://www.ft.com/cms/s/0/1ba7739e-d3a7-11e0-bc6b-00144feab49a.html?ftcamp=rss