Mutual Funds Today will address the Department of Labor's proposed fiduciary standard rule, alternative funds and regulatory product developments with exchange-traded funds, and what the SEC is doing on omnibus accounts
and sub-Transfer Agent arrangements.
Indicating the advent of derivatives, efforts are now afoot to introduce omnibus accounts
, which are expected to come once the central counterparty (CCP) is in place during the exchange's second phase of development.
The activity in question highlights the need for vigilance in the securities industry, where vehicles such as omnibus accounts
, as well as the intermediated nature of the securities custody industry itself, can serve to obscure the beneficial ownership interests of sanctioned parties," the Treasury said.
The London affiliate utilized code names to disguise the identities of the sanctioned entities and maintained sub-accounts in these code names in its omnibus accounts
maintained in the US.
NEW YORK -- The Royce Funds have announced that, effective September 28, 2012, there is no minimum initial investment requirement for Institutional Class shares for employer-sponsored Retirement Plans with plan level or omnibus accounts
held on the books of the Fund.
Qatar Stock Exchange (QSE) is all geared up to introduce securities lending and borrowing, margin trading, omnibus accounts
and a central counterparty (CCP) as part of its measures to further enhance the operational efficiency and attractiveness to foreign investors.
Access Data's Market Intelligence offering delivers data transparency for omnibus accounts
across the widest store of distributor data of long-term mutual fund and ETF assets distributed through third parties, including RIAs and independent broker-dealers.
MexDer is a dynamic exchange that has remote memberships, omnibus accounts
, no withholding tax scheme for foreigners and a remote access platform called MexFix.
The creation of the omnibus accounts
is expected to benefit the broker dealer with more efficient transaction processing and other cost savings.
The new rule is the first step toward establishing transparency within omnibus accounts
in order to identify patterns of short-term trading and to protect long-term investors in mutual funds from market timing.
Establishing, clearing and executing relationships; -- Performing trade and asset resolution; -- Fixing all missing code values; -- Verifying firm, office and rep information and performing de-duping analysis; -- Providing channel and territory re-alignment support; and -- Reconciling omnibus accounts
with intermediaries' sub-accounting detail.
Networking currently supports more than 82 million customer and omnibus accounts
- a pool of individual accounts combined into one account, usually in the name of an intermediary firm.