The European Systemic Risk Board (ESRB), based at the European Central Bank (ECB), said firms using banks to service their derivatives contracts may create extra risks because even for genuine hedging, the contracts are not risk-free.
This is the first acquisition Plaza has made since inception earlier in the year, investing in large real estate assets around the globe. With leverage, Plaza has USD 1 billion gross of initial buying power.
In the UK the restructure will see the creation of an advisers and investments business unit made up of Standard’s existing retail adviser, proposition, wealth and investment solutions businesses, reporting into Richard Charnock.
Threadneedle is to roll out a range of commission-free share classes across the majority of its fund range, and waive initial charges for advised UK retail investors, as it makes its proposition ready for the post-RDR world.
*In total, the industry saw estimated outflows of approximately $8.5 billion in July, bringing overall assets under management for the industry to approximately $1.75 trillion;
Franco-Belgian bank Dexia SA said it believes it will need to recapitalise its Luxembourg arm before the latter's imminent sale, which could see it demanding further money from the Belgian and French governments.
The first batch of shares were sold at 226.04p and the second for 225.00p, for a total of £67,656, taking his holding to 83,333 shares.
The sharia-compliant investment bank bought the 107,000 sq ft building for £33.4m from accountancy firm KPMG, receiver to a failed Irish property company.