After the takeover, KGI Securities is expected to merge with GCSC, a securities subsidiary
of China Development, next year.
acknowledged today that its Southwest Securities subsidiary
may lose a customer relationship as a result of another regional brokerage firm acquiring one of Southwest's correspondents.
Under the agreement, Norinchukin Bank, the central bank for agricultural cooperatives, will transfer most of the assets and some 50 employees of its wholly owned securities subsidiary
Norinchukin Securities Co.
A wholly-owned securities subsidiary
Toyota plans to set up later this year is likely to start operations independently but eventually join the holding company, the officials said.
IT and software group Misys has acquired the UK stockbroking systems business of EDS Securities Industry Group, which will be integrated into its securities subsidiary
, ACT Financial Systems.
In addition, Kathy Levinson, president and chief operating officer of the E*Trade Securities subsidiary
now assumes the additional title of president and COO of the parent company, E*Trade Group.
5 billion government bailout in '84) breached internal firewalls to prop up a securities subsidiary
it operated by special permission from regulators.
Regulators could conceivably limit a bank's ability to use credit to subsidize a direct securities subsidiary
of the bank as well by applying sections 23A and 23B.
Among the biggest changes would be easing the restrictions on sharing employees and directors and ending the ban on banks helping to market the activities of the securities subsidiary
ACN facilitates private capital investments by angels, institutions, and venture capitalists through its licensed securities subsidiary
, ACN Securities, Inc.
The TRC expects the securities subsidiary
to maintain its profitability at similar levels as 2009 results over the next two years.
Previously, he was CEO of BankAmerica Securities, where he founded the legal entity and built the infrastructure of Bank of America's first wholesale integrated securities subsidiary