A securities subsidiary
of JPMorgan Chase is suing the NCUA for breaching a $1.
The bank also plans to establish a securities subsidiary
in Frankfurt, Germany, the report noted.
The company's National Securities subsidiary
was founded in 1947, while the company was organised in 1999 and is based in New York and Florida.
After the takeover, KGI Securities is expected to merge with GCSC, a securities subsidiary
of China Development, next year.
The Fed answer explains in detail that AIG's problems stem from its sale of credit-default swaps on mortgage-backed securities, as well as speculation in MBS by AIG's securities subsidiary
that collateralized the investment with reserves held by AIG's life-insurance subsidiaries.
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.