The OCC is requesting comment on a proposal that would revise the requirements imposed on banks pursuant to 12 CFR 9.18(b)(4)(ii)(B), the short-term investment fund (STIF) rule (STIF Rule). The proposal would add safeguards designed to address the risk of loss to a STIF's principal, including measures governing the nature of a STIF's investments, ongoing monitoring of its mark-to-market value and forecasting of potential changes in its mark-to-market value under adverse market conditions, greater transparency and regulatory reporting about a STIF's holdings, and procedures to protect fiduciary accounts from undue dilution of their participating interests in the event that the STIF loses the ability to maintain a stable net asset value (NAV).
SINGAPORE/DUBAI (Reuters) - Global sovereign wealth funds are set to hasten investing the billions of dollars of cash holdings they have built up in a rebound from the 2008 financial crisis that has lifted their combined assets to a record. But unlike three years ago, when they rode to the rescue of Wall Street titans such as Merrill Lynch and Citigroup, the investments this time around are seen mostly of a smaller nature and into the faster-growing sectors such as resources and infrastructure.
This final rule revises the requirements imposed on national banks pursuant to the OCC's short-term investment fund (STIF) rule (STIF Rule). Regulations governing Federal savings associations (FSAs) require compliance with the national bank STIF Rule. The final rule adds safeguards designed to address the risk of loss to a STIF's principal, including measures governing the nature of a STIF's investments, ongoing monitoring of its mark-to-market value and forecasting of potential changes in its mark-to-market value under adverse market conditions, greater transparency and regulatory reporting about a STIF's holdings, and procedures to protect fiduciary accounts from undue dilution of their participating interests in the event that the STIF loses the ability to maintain a stable net asset...
BROKERS CONTRACTS NEGLIGENCE TORT MISCELLANEOUS: A broker or financial advisor has a fiduciary relationship with his clients. The trial court did not err in granting summary judgment in favor of a securities firm on the firms former clients claims for negligence and breach of fiduciary duty because the securities firm did not owe the clients a duty after the clients followed their broker to another firm and transferred their investments to the new firm where the clients lost no money while their accounts were at the original securities firm, but sustained substantial losses after transferring their investments to the new firm. Herbert v. Banc One Brokerage Corp., 93 Ohio App.3d 271, 638 N.E.2d 151 (1st Dist.1994), followed. [But see DISSENT: Herbert did not address the reco...
... the nature and extent of their rights and obligations and are f...
Client criteria imposed upon active asset management companies to hold only high-quality (HQ) investments in achieving specific Treasury-adjusted spreads and above-average rates of return effectively mandate a passive management policy and can be met only with very low probability. HQ investments do not consistently outperform either medium (MQ) or low quality (LQ) investments over time regardless of whether returns are measured monthly, quarterly, or yearly. Further, both time series and cross-sectional results show that HQ sectors are generally associated with ex post returns that are lower than those for either MQ or LQ sectors. Finally, HQ sectors do not outperform MQ and LQ sectors in consistently surpassing Treasury spreads or crediting rates. These results suggest that perio...
...Further, the passive nature of managing requires that superior performing asse...
As the controller of a creative services company, it's in my nature to measure the effect of investments on the bottom line. In an era where we're pushed to do more with less, I've witnessed many companies make great strides with slim resources. The key is to squeeze every last bit of value out of the resources at hand, and central to these efforts is leveraging a brand. A brand is an interesting intangible. It's not like other assets - it doesn't gradually lose value. Actually, it can create value and bring future returns if it's used wisely.
HARRISBURG, Pa., Nov. 15, 2012 /PRNewswire-USNewswire/ -- The Corbett administration announced today that the Commonwealth Financing Authority (CFA) has approved nearly $33.5 million through the H2O PA program to fund the construction and repair of flood control projects that will impact more than 270 businesses and 5,200 residents in three counties. Although Pennsylvania was very fortunate, Superstorm Sandy brought powerful reminders of the damage and destruction that flooding can bring to communities," Governor Tom Corbett said. "Today's investments proactively help protect businesses and residents from the devastation that nature can bring.
Mounting an effective defense , a former NBA star has prevented Morgan Keegan from taking back the $1.46 million arbitration award he got from the Memphis-based investment bank last year. Horace Grant, who played on three championship teams with the Chicago Bulls and one with the L.A. Lakers, had won the arbitration in September after claiming Morgan Keegan failed to reveal the highly speculative nature of failed investments backed by subprime mortgage debt.
When a firm extends credit to a competitor, or a bank or an investment fund holds debt in two or more competing firms, the question arises whether these investments are likely to substantially lessen competition or unreasonably restrain trade. Conceivably, the lender could exploit its contractual position to exercise control over the borrower and/or to gain access to the borrower's confidential information. In addition, holding a financial interest in the debtor might create an incentive for the creditor to unilaterally raise prices following the investment or enable the creditor, the debtor, and other firms in the industry to engage in coordinated interaction that harms consumers. This article examines whether debt investments are, in fact, likely to produce meaningful anticompetitive ...
... meaningful anticompetitive effects of that nature.1 Taking comparable minority equity investments as...
Despite having clamored for sustainable development projects for decades, environmental groups mounted a nine-year-long opposition campaign, eventually forcing Trillium into financial difficulty that left the land vulnerable to takeover. "The 680,000-acre reserve was donated for permanent preservation by Goldman Sachs to the Wildlife Conservation Society, which manages the preserve along with a Chilean advisory board," reported Pensions and Investments. Mr. Paulson-who is chairman of the board of governors of The Nature Conservancy and well connected in the global conservation community-said he was aware that a private equity company had amassed a large parcel on Tierra del Fuego that included a rare hardwood forest slated for logging.
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