High-Frequency Fight Starts in Foreign Exchange
April 17th, 2014
Foreign-exchange dealers say they have the solution to the high-frequency trades eroding banks’ profits across financial markets. A currency-dealing platform known as ParFX, established in 2011 by firms from Deutsche Bank AG to Citigroup Inc., was approached last month ...
Regulators suggest firms take deep dive into audit quality
April 11th, 2014
While acknowledging that auditors are under unprecedented scrutiny, an international association of audit regulators is asking audit firms to analyze causes of problems in audits globally in hopes of finding remedies. Lewis Ferguson, chair of the International Forum of ...
ASIC obtains orders cancelling 15 million shares held in Northwest Resources Limited
April 11th, 2014
Following an application by ASIC, the Federal Court of Australia has ordered the cancellation of 15 million shares in ASX-listed Northwest Resources Limited (Northwest) that were held in the name of Craigside Company Limited (Craigside), a company incorporated in ...
European Stocks Rise After Two-Day Drop; Kingfisher Gains
April 9th, 2014
European stocks advanced, after the region’s equities posted their first back-to-back losses in more than three weeks. U.S. index futures were also little changed, while Asian shares outside Japan rose. Kingfisher Plc (KGF) added 1.5 percent as UBS AG ...
SEC Probes Threat From Cyber Attacks Against Wall Street
March 27th, 2014
The U.S. Securities and Exchange Commission is examining the exposure of stock exchanges, brokerages and other Wall Street firms to cyber-attacks that have been called a threat to financial stability. The SEC held a roundtable discussion of those risks ...
ASIC reports on penalties for corporate wrongdoing
March 20th, 2014
ASIC, the Australian Securities and Investment Commission, has released Report 387 Penalties for corporate wrongdoing (REP 387). REP 387 reviews penalties in Australia for corporate wrongdoing to assess whether they are proportionate and consistent. It compares ASIC’s penalties with: ...
Bank of England launches strategic plan
March 19th, 2014
The Bank of England today launched its Strategic Plan, following a six month exercise led by the Executive Committee of the Bank. The Plan, to be implemented over the next three years, provides an ambitious agenda to transform the ...
As talk of sanctions on Russia heats up, business groups draw cautionary line
March 10th, 2014
Business groups are pushing to ensure that any economic sanctions imposed on Russia by the United States are joined by as much of the rest of the world as possible, warning Congress and the Obama administration that unilateral U.S. ...
Repo (Repurchase agreement)
March 6th, 2014
Repo is an agreement in which one party sells a security to another party and agrees to repurchase it on a specified date for a specified price. In other words it is an agreement with a commitment by the ...
Securities
March 6th, 2014
A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities, such as bonds and debentures, and equity securities, e.g. common stocks. The company or other entity issuing the security is called the ...
