ICI reported to the Federal Reserve a rise in total money market mutual funds The Investment Company Institute (ICI) issued a report for money market mutual funds assets: "Total money market mutual fund assets increased by $12.
Legal & Regulatory
Four Provident execs jailed
Former Provident executives were sentenced to jail after pleading guilty for investment fraud. According to United States attorney John M. Bales' statement today, four executives from Provident Royalties, Inc.
IRS suggests reform to US$2.6 trillion money market fund industry
The IRS proposed reform for the money market fund industry is set to tackle tax matters. On Wednesday, the US Internal Revenue Service recommended new regulations.
Firm ownership rules set by RBI
The Reserve Bank of India announced new guidelines regarding the 'ownership' and 'control' of FDIs in the country.
U.S. investment industry units fight over ethics, costs
US investment industry continued to resolve the problems on ethics and costs amidst controversies. An average of US$8 million would be spent by Wall Street's brokerages.
Latest News
NY DFS sent a letter to foreign reinsurers asking if they were linked with Iran. The New York's Department of Financial Services sent a letter, dated June 25, to 20 non-US reinsurers of any business transactions they had with entities linked to Iran.
Friday last, China announced that it would cut off credit to force consolidation in industries. Last Friday, China announced that it would cut off credit to force consolidation in industries.
The CFTC would be conducting a formal meeting to discuss its new rule on swaps. The US Commodity Futures Trading Commission (CFTC) announced for a formal meeting on July 12 to discuss how new rules apply abroad.
According to analysts, big US banks were caused a multi-billion dollar dent after the selloff in the bond market in the last eight weeks.
US regulators finally approved the acquisition bid from SoftBank Corp to take control over Sprint Nextel.
Nokia's Standard & Poor's rating plummeted further in the junk territory. (Photo : reuters. com)Nokia, Finnish Telecom company SGV claims that Nokia is in no position to buy Siemens shares.
A group of wheat growing states joined the US Justice Department antitrust division in investigating a proposed joint venture by ConAgra Foods Inc and Horizon Milling.
The European Union and China hope to defuse conflicts by negotiating about a solar panel deal. On Friday, the European Union and China were finally moving in the direction of a new contract.
Credit Suisse estimated that they will receive US$94 Million hits from UK tax deal Credit Suisse forecasted that they are expecting a loss of CHF90 million or something in the area of US$94.
