Unauthorized Investment

Unauthorized Investment

An investment that does not meet the investment goals of a bank or trust. An unauthorized investment may be legal; that is, a bank or trust may be allowed to purchase an unauthorized investment. However, it does not suit the particular needs of the bank or trust. It contrasts with a nonlegal investment, which is not permitted by law.
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'The PSE received information that an unauthorized investment solicitation supposedly from the Philippine Stock Exchange Inc.
The unauthorized investment solicitation requires an initial investment of P29,500 up to P135,500 and guarantees a return of 62 percent, PSE chief operating officer Roel Refran said in an advisory dated Aug.
France continues to demonstrate a mixed attitude towards cryptocurrencies: for example, in December, the AMF blacklisted four crypto-related websites for unauthorized investment offerings.
The SEC further alleges that the client later learned about Blazer making the unauthorized investment in the movies and demanded repayment, even threatening a lawsuit.
The recent humiliating penalty (to write a public self-criticism paper) for the governor of Inner Mongolia and his deputies for embarking on an unauthorized investment binge in coal-fired power plants sets a good example.
The BWC, which had a significant investment in an MDL-managed fund, alleges MDL made unauthorized investment decisions that led to a $215 million loss in November 2004.
The South China Morning Post reported that the alleged misuse of funds involved so-called ''off-balance-sheet'' money -- accumulated through skimming off officially allocated funds and through unauthorized investment without the knowledge of the bank's Beijing headquarters.
An unauthorized investment solicitation using the PSE logo in its letterhead, which originally surfaced in late 2017 to early 2018, is again being circulated in social media groups, the PSE reported.
The NAB presented report of the unauthorized investment by the Benevolent Fund and Group Insurance, the official said that the investment was made in three institutions.
Furthermore, penalties have been imposed on directors of two companies for making unauthorized investment to associated companies without following the legal requirements.
An unauthorized investment solicitation using the PSE logo in its letterhead - which originally surfaced in late 2017 to early 2018 - is again being circulated in social media groups, the PSE warned.
(A.M.) lacked integrity for producing inaccurate information regarding the amount of a client's total net assets and for making unauthorized investments for another client that he attempted to conceal," the regulatory authority said.
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