All articles by Verdict Staff
Verdict Staff
SEC charges Virginia-based broker with stealing funds from elderly
The Securities and Exchange Commission has charged a broker based in Roanoke, Virginia with defrauding elderly customers, including some who are legally blind, by stealing their funds for her personal use and falsifying their account statements to cover up her fraud.
Lloyds H1 pre-tax profit nose dives
Britain’s state-rescued Lloyds Banking Group has reported a pre-tax profit of £863 million for the first half of 2014, down 58% from £2.1 billion a year ago.
SEI expands UK team to support growing institutional business
SEI has announced the appointment of Paul Nevin as a director in SEI’s Institutional Group based in London.
HSBC Holdings names new independent non-executive director
HSBC Holdings has named Heidi Miller as an independent non-executive director, effective 1 September 2014.
Philam Asset Management signs distribution deal with COL Financial
Philippines-based Philam Asset Management (PAMI) has entered into a distribution agreement COL Financial Group to market its mutual funds to COL clients.
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HSBC GAM to set up passive RQFII business in London
HSBC Global Asset Management (HSBC GAM) is reportedly planning to set up a passive RQFII business in London, following the closure of its passive unit in Hong Kong in February this year.
MAS proposes legislation for regulatory framework for financial benchmarks
The Monetary Authority of Singapore (MAS) released a consultation paper on legislation to introduce a regulatory framework for financial benchmarks.
US regulator to launch more focused analysis of asset management industry
The Financial Stability Oversight Council (FSOC), administered by the US Treasury, has asked its staff to conduct a more focused analysis of activities and products in the asset management industry rather than individual firms.
Tread carefully when investing in overseas equities: Brewin Dolphin
Saudi Arabia is to open access to its stock market to foreigner investors for the first time, wealth manager Brewin Dolphin highlights the higher risks associated with holding direct investments overseas.
Canadian Imperial Bank of Commerce names new president and CEO
Canadian Imperial Bank of Commerce (CIBC) has named Victor Dodig as new president and chief executive officer, effective 15 September 2014, replacing Gerald McCaughey.