All articles by Verdict Staff
Verdict Staff
Emerald Asset Management acquires Direct Lending Capital
Pennsylvania-based Emerald Asset Management (EAM), which manages approximately US$2.4 billion of assets, has acquired California-based Direct Lending Capital.
European Central Bank further reviews its risk control framework
The Governing Council of the European Central Bank (ECB) decided to further strengthen its risk control framework. To maintain adequate risk protection, the ECB regularly adjusts its collateral eligibility rules and haircuts applied when accepting collateral in Eurosystem monetary policy operations. In addition, some measures aim to improve the overall consistency of the framework.
Schroders appoints head of property investment in France
British asset management firm Schroders has appointed Thomas Guyot as head of property investment in France.
MiFID II and the automatic exchange of information – a link?
The reform and broadening of the regulations on markets for financial instruments published in mid-October by the EU Commission also call for increased rules for providers of securities services and investment activities from third countries, i.e. from non-EU countries. Authorization for onshore business through a branch will, among others, only be granted by the competent authorities of the EU Member State if a double-taxation agreement on par with OECD standards has been concluded.
Bank of America’s wealth unit registers 38% surge in Q2 income
Bank of America’s Global Wealth and Investment Management (GWIM) division has posted a net income of US$758 million for the second quarter of 2013, an increase of 38% compared to US$548 million reported a year ago.
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Zurich home to largest portion of Switzerlands UHNWIs
Zurich home to largest portion of Switzerlands UHNWIs
BNY Mellon Q2 profit surges 78%
BNY Mellon has reported profit of US$833 million for the second quarter of 2013, an increase of 78% from US$466 million in the year ago quarter thanks to an equity investment and improved fee revenue.
Raymond James expands investment advisors division, appoints four regional directors
Raymond James Investment Advisors Division (IAD), has expanded the groups management team with the addition of four industry veterans as regional directors.
European Commission opens in-depth investigation into amended Spanish tax scheme
The European Commission has opened an in-depth investigation to verify whether the new interpretation of a Spanish scheme allowing tax deductions in connection with the acquisition of shareholdings in non-Spanish companies is in line with EU state aid rules.
SEC fines ex-director at Goldman Sachs US$13.9 million for insider trading
The US Securities and Exchange Commission (SEC) has fined former Goldman Sachs director and board member, Rajat K Gupta, US$13.9 million, for illegally tipping confidential corporate information off to former hedge fund manager Raj Rajaratnam.