US banks have too many A study by the New York Federal Reserve has revealed growing complexity in the way banks maintain foreign subsidiaries, but not a corresponding increase in risk. The number of legal layers between a bank subsidiary and its top holder has expanded from three in the 1990 to an average of five in 2014. According to data from the National Information Center (NIC), the largest separation between a US bank and a bank subsidiary was 16 layers, and 19 for a non-bank subsidiary.
Construction company OAS is the first to take full advantage of the Brazil's restructuring law, which was passed 10 years ago, by securing debtor in possession (Dip) financing. After several appeals and an injunction, an appeals court last month confirmed a lower ruling approving the financing.
Securities need a more standardised labelling procedure Securities research firm Morningstar has proposed that all managed products sold to investors should have increased and equivalent disclosure standards. The push comes as the Securities and Exchange Commission (SEC) attempts to introduce increased disclosure for mutual funds. In a comment letter sent to the regulator, Morningstar expressed its support for adding transparency and comparability to the mutual fund market by changing the ways securities are labelled, and creating standard metrics for calculating common investor considerations like duration.
Securities research firm Morningstar is proposing that all managed products sold to investors should have increased and equivalent disclosure standards
A study by the New York Federal Reserve has revealed growing complexity in the way banks maintain foreign subsidiaries, but not a corresponding increase in risk
Anti-corruption initiatives and liberalised energy sectors have improved investment prospects. Recent deals reveal which changes are the most effective
The US Commodity Futures Trading Commission has issued its first exemption from registration as a derivatives clearing organisation (DCO) to Australia's ASX Clear
