The Board is adopting technical amendments to the financial holding company
provisions of Regulation Y to restore provisions that were adopted in December 2000, and inadvertently deleted from the Code of Federal Regulations.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning future performance, developments or events, expectations for earnings, growth and market forecasts, and other guidance on future periods (including, among others, statements regarding the benefits of the acquisition of San Juan Financial Holding Company
by Banner), which forward-looking statements are subject to a number of risks and uncertainties that are beyond the Company's control and might cause actual results to differ materially from stated objectives.
A financial holding company
may not under this subpart acquire or control assets, other than debt or equity securities or other ownership interests in a company, unless:
Empire Financial Holding Company
provides full-service and discount retail securities brokerage via both the telephone and the Internet, offers securities order execution services, acts as principal in securities transactions for unaffiliated broker dealers, and provides turn-key fee based investment advisory services.
The other units to be merged into the new financial holding company
include the Cooperative Asset Management Corporation, and Taiwan Cooperative Bills Finance Corporation.
1 "small business-friendly" financial holding company
for 2001-2002, 1999-2000, 1998-1999 and 1996-1997.
For example, in determining whether an activity is financial in nature or incidental to a financial activity, the agencies must consider whether the proposed activity is necessary or appropriate to allow a financial holding company
to compete effectively with any company seeking to provide financial services in the United States, efficiently deliver financial information and services through the use of technological means, or offer customers any available or emerging technological means for using financial services.
Shieh, who was the Executive VP and spokesperson of Mega Financial Holding Company
, as the Company's CFO and Senior VP in order to meet the rapid business development and strengthen the financial management strategies of the Company.
Important factors that could cause our actual results to be materially different from our expectations include, among others, final results of the Notes Exchange being different than current expectations; the ability to satisfy the conditions to the Notes Exchange; and the success, or lack thereof, of the transactions and other initiatives described in this press release, including our application to the Federal Reserve to become a bank holding company and a financial holding company
and the submission of our application to the U.
March 16 /PRNewswire-FirstCall/ -- Empire Financial Holding Company
, a full service brokerage, investment banking and investment advisory firm, today announced that it has completed the sale of 863,074 shares of 4% Convertible Preferred Stock and 431,537 Warrants to accredited individual and institutional investors for gross and net proceeds of $2.
The interpretation clarifies that a foreign bank that wishes to engage in such activity must either be a financial holding company
(FHC) or have authority to engage in underwriting activity under section 4(c)(8) of the BHC Act.
Federal Reserve Board to become a bank and financial holding company
, paving the way for its acquisition of Treasury Bank Ltd.