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| | Chinese wall - Wikipedia, the free encyclopedia |
 | | The Chinese wall is also used in law firms in situations where one part of the firm, which is representing a party on a deal or litigation, is separate from another part of the firm that might otherwise have an adverse effect on the party's interests. |  | | A Chinese Wall is most commonly employed in investment banks, where such banks offer corporate finance services to companies (managing the fund-raising, for example), and at the same time also provide financial research information to a more general audience. |  | | Because it is possible to manipulate the financial research reports to encourage the general public to purchase shares in a company (for example), the conflict of interest arises when such a company is also the customer of this particular investment bank. |
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http://en.wikipedia.org/wiki/Chinese_wall_(financial)
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| | merchant bank - Hutchinson encyclopedia article about merchant bank |
 | | Financial institution that specializes in corporate finance and financial and advisory services for business. |  | | Originally developed in the UK in the 19th century, merchant banks now offer many of the services provided by the commercial banks. |
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http://encyclopedia.farlex.com/merchant+bank
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| | Fordham Journal of Corporate & Financial Law: ARE CHINESE WALLS THE BEST SOLUTION TO THE PROBLEMS OF INSIDER ... |
 | | A Chinese Wall is the primary weapon used to prevent insider trading.4 Insider trading is the illegal trading of a security based on material, nonpublic information.5 In a multi-service broker-dealer, the investment banking department usually obtains this material, nonpublic information through its relationship with corporate clients. |  | | Chinese Walls will only prevent insider trading at the broker-dealer level, but instances of insider trading by insiders and their tippees will continue to occur. |  | | Chinese Walls may partially control conflicts of interest and insider trading; however, this success comes with some significant costs. |
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http://www.findarticles.com/p/articles/mi_qa4048/is_200401/ai_n9382780
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| | Mwenda, 'Banks and the Use of Chinese Walls in Managing Conflict of Duties' [2000] 2 Web JCLI |
 | | Indeed, problems that could arise, say, in the case of a Chinese wall in a law firm or investment Bank might be different from those arising in the case of a Chinese wall in an accounting or auditing firm or in a stock-broking firm. |  | | The guidance envisages that Chinese walls can only be used in very rare cases following the amalgamation of two firms and then only when the best interests of clients permit the amalgamated firm to continue to act and the clients have received full and frank independent advice and have subsequently consented to the arrangement. |  | | Fiduciary obligations of financial institutions such as Banks are examined and the article provides an international and comparative study on the subject. |
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http://webjcli.ncl.ac.uk/2000/issue2/mwenda2.html
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| | Fixing China's Banks, Not Russia's |
 | | Their financial counterparts spawned in the 1990s are International Trade and Investment Corporations, ITICs (joint ventures of local governments and foreign entities), rural credit cooperatives (RCCs, grown up to 35,000 by 2004), urban cooperative banks and credit unions, city commercial banks, and the 11 joint-stock commercial banks, national in scope. |  | | It is their opposites that are novel and unique--separation of credit from payments and integration of credit, investment, and deposits through financial intermediation between households and firms through the banking system. |  | | Separation between credit and payments, which is the first-order outcome of the rise of financial intermediation in banking, led to emancipation of investment from commerce on the eve of the industrial era. |
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http://www.russianeconomy.org/comments/052504.html
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| | [No title] |
 | | If we look at the broader types of financial assistance -- various packaged awards, such as grants with jobs, or loans -- it shows that the average such packaged award in 1969-70 to the average man student was $1,465 and to the average women student it was $1,173. |  | | The College's financial aid program is therefore clearly a "program or activity receiving Federal financial assistance." The legislative history of Title IX supports this conclusion. |  | | When Congress authorized BEOG funding for needy students' educational expenses, it undertook a financial burden that colleges would otherwise have shouldered alone through their scholarship and financial aid programs. |
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http://www.usdoj.gov/osg/briefs/1983/sg830181.txt
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| | Campbell R. Harvey's Hypertextual Finance Glossary |
 | | This might take the form of a supermajority vote requirement for charter or bylaw amendments, total elimination of the ability of shareholders to amend the bylaws, or the ability of directors beyond the provisions of state law to amend the bylaws without shareholder approval. |  | | A person who has passed examinations accredited by the Certified Financial Planner Board of Standards, showing that the person is able to manage a client's banking, estate, insurance, investment, and tax affairs. |  | | A bank guaranteed check for which funds are immediately withdrawn, and for which the bank is legally liable. |
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http://www.duke.edu/~charvey/Classes/wpg/bfglosc.htm
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| | USATODAY.com - Chinese snap up brand-name U.S. firms |
 | | Thomson Financial says Chinese acquisitions in the USA soared to $3 billion last year, more than in the previous four years combined, driven by the $1.8 billion buyout of IBM's personal computer business. |  | | But while the Chinese government has pursued a conservative foreign investing strategy to date, there are signs it is having trouble investing domestically. |  | | Flush with cash, Chinese investors seek to secure long-term supplies of raw materials for that country's fast-growing economy and to snap up brand names with global cachet. |
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http://www.usatoday.com/money/world/2005-06-21-china-usat_x.htm
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| | The Chinese Wall security policy |
 | | It should be noted that in the United Kingdom the Chinese Wall requirements of the UK Stock Exchange [6] have the authority of law [7] and thus represent a mandatory security policy whether implemented by manual or automated means. |  | | It is usual in the application of the Chinese Wall policy for company datasets to contain sensitive data relating to individual corporations, the conflict of interest classes being in general business sectors. |  | | It is required in the operation of many financial services organizations and is, therefore, perhaps as significant to the financial world as Bell-LaPadula's policies are to the military. |
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http://www.gammassl.co.uk/topics/chinesewall.html
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| | CHINESE-AMERICAN CONTRIBUTION TO TRANSCONTINENTAL RAILROAD |
 | | We have assurances from leading Chinese merchants, that under the just and liberal policy pursued by the Company, it will be able to procure during the next year, not less than 15,000 laborers. |  | | These agents are generally American or Chinese merchants, who furnish them their supplies of food, the value of which they deduct from their monthly pay. |  | | The book attempts to calculate the size of the workforce despite presenting reseach showing names of only the many headmen listed but almost none of the "nameless" Chinese laborers that were left unrecorded and finding that more than half of the monthly payroll documents were missing. |
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http://cprr.org/Museum/Chinese.html
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| | Chinese walls |
 | | For example, a 'Chinese wall' is said to exist between the corporate advisory area and the broking division, to separate those giving corporate advice on takeovers from those advising clients about buying shares. |  | | The ethical rather than physical separation of different divisions of a financial or other institution to avoid conflict of interest. |  | | Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. |
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http://www.anz.com/edna/dictionary.asp?action=content&content=chinese_walls
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| | TheStreet.com: Merrill Rules Skirt the Chinese Wall Issue |
 | | Until Wall Street firms' research and banking functions are truly independent of one another, investors won't have confidence in the analysis they see, no matter how much disclosure the firms offer, analysts say. |  | | The group, made up of Wall Street firms, suggested not linking analyst pay to specific investment banking transactions or sales, disclosing ownership positions and explicitly discussing valuations and risks. |  | | But disclosure aside, some industry experts say the real issue is the lucrative investment banking business that is the bread and butter of Wall Street firms. |
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http://www.thestreet.com/stocks/eileenkinsella/1486184.html
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| | Comments of DC Bar Association on File No. S7-31-99 |
 | | Many securities professionals, as part of a financial services complex, rely on the existence of Chinese Walls to continue to trade securities of issuers at the same time that other affiliated entities have become aware of material, nonpublic information regarding those issuers. |  | | Nonetheless, explicit regulatory recognition of a Chinese Wall defense would be an important advance, particularly for members of the financial services industry. |  | | In one respect, this provision is consistent with the SEC's prior rulemaking and amicus positions regarding Chinese Wall procedures. |
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http://www.sec.gov/rules/proposed/s73199/dcbar1.htm
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| | TABB Group Report on Financial Chinese Walls Says Compliance IT Still Reactive (Not Predictive), Falls Far Too Short - ... |
 | | TABB Group is a financial markets technology strategy and planning consultancy focused on helping financial services firms, vendors and technology integrators better understand, create, align and execute their business technology visions. |  | | According to a new industry report, “Chinese Wall Compliance: Plugging Holes and Keeping Firms Afloat”, issued by TABB Group, “We are witnessing the SEC and state regulators increase enforcement and raise the level of penalties in attempts to restore public trust in the financial markets.” |  | | Under today’s hyper-strict regulatory and litigious environment, higher volumes of electronic and discoverable communications and geographic expansion, it has become increasingly difficult for financial firms to monitor and police strict boundaries. |
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http://www.windowsfs.com/news_summary.asp?article=2011
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| | Chinese buy U.S. financial news service |
 | | Competition between financial news services is already intense following a downturn in the financial services sector. |  | | Zonis said the acquisition shows that China's government is serious about controlling financial data as well as reporting financial news. |  | | Market News is privately held and does not report its sales figures but insiders told Reuters the company had been on the block for the past three or four years and that the financial situation at the company has been tight. |
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http://www.thehollywoodreporter.com/thr/media/article_display.jsp?vnu_content_id=2048218
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| | Stocks and Investment |
 | | This non-profit organization tries to enhance investors knowledge of the various financial markets and investment tools, through which members may cultivate a proper investment concept and refine their investment skills. |  | | A free source of daily commodity futures and financial market information. |  | | Allows users to perform interactive foreign exchange rate calculations on the Internet, using live, up-to-the-minute currency rates. |
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http://library.ust.hk/guides/stocks.html
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| | INSURANCE |
 | | Wall Street is bracing for another round of layoffs as it tries to cut costs and adjust staffing levels in response to the worst stock market conditions in decades. |  | | According to the Alert, the acceleration of reporting deadlines, the increase in disclosure of critical accounting estimates and the requirement that executives certify the accuracy and completeness of quarterly and annual reports and related internal controls will greatly alter the financial reporting landscape for the insurance industry. |  | | The report points out that several of these estimates will fall under the proposed SEC requirement that public companies provide detailed disclosures in the MDandA about their most sensitive and subjective accounting estimates. |
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http://www.insurance-portal.com/101502.htm
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| | Wall $treet Week with FORTUNE . Profiles PBS |
 | | By the time Global Crossing collapsed, its long-term debt had ballooned to $7.6 billion (total liabilities were $14 billion), and it simply didn't have the cash to make its interest payments. |  | | In a drive-by offering, a Wall Street firm buys a telecom's debt and tries to sell it--very quickly--to institutional investors like pension and mutual funds for a slight premium. |  | | Sources at one large financial services firm in New York say the network periodically goes down. |
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http://www.pbs.org/wsw/profiles/winnick.html
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| | USNews.com: Financial Advice You Can Trust (6/25/01) |
 | | But other financial houses aren't likely to follow Prudential's lead, voluntarily or under pressure. |  | | An outside nudge would most likely require new securities laws, which are sure to be slow in coming. |  | | Since December, Prudential Securities has been shifting its focus from investment banking to objective research, and it has hired analysts willing to slap a stock that deserves a spanking. |
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http://www.usnews.com/usnews/biztech/articles/010625/archive_037901.htm
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| | Analysts in the hot seat - Feb. 27, 2002 |
 | | Two other witnesses -- Howard Schilit, president of the independent research firm Center for Financial Research and Analysis, and Chuck Hill, director of financial research for Thomson Financial/First Call -- testified that nothing would change with Wall Street analysis unless the so-called "Chinese Wall" separating research and investment bankers is rebuilt. |  | | The National Association of Securities Dealers recently proposed new regulations for analysts, including more disclosure of what stocks an analyst owns, as well as a ban on compensation tied to investment banking deals. |  | | The only problem, however, is that harsh words from senators or even legislation might not really fix anything. |
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http://money.cnn.com/2002/02/27/investing/q_analysts
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| | [No title] |
 | | The case has sent solicitors and accountants scurrying to look at their own procedures to prevent conflicts of interest." Robert Kingston, Law: Invasion of the Bean-counters, The Independent (London), Feb 11, 1999. |  | | Before changing the event name, we wish to educate ourselves on this issue and make an informed decision. |  | | You can buy one or many tickets and bid them for various items. |
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http://wordsmith.org/awad/archives/0702
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| | OUP: Financial Conglomerates and the Chinese Wall: McVea |
 | | While conglomerates bring with them many economic benefits (diversification of risk, economies of scope, etc), they also impose costs (systemic risk and conflict of interest abuses). |  | | The specification in this catalogue, including without limitation price, format, extent, number of illustrations, and month of publication, was as accurate as possible at the time the catalogue was compiled. |  | | Here the conglomerate will have to suffer the commercial disadvantages of being a fiduciary by adopting a different, albeit more restrictive, regulatory option. |
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http://www.oup.co.uk/isbn/0-19-825713-9
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| | Chinese Wall |
 | | A Chinese Wall is said to exist, for example, between the corporate-advisory area and the brokering department to separate those giving corporate advice on takeovers from those advising clients about buying shares. |  | | The ethical (not physical) barrier between different divisions of a financial (or other) institution to avoid conflict of interest. |  | | Some Wall Street scandals in recent years, however, have made some people doubt the effectiveness of Chinese Walls, as well placed executives of respectable firms have traded illegally on inside information for their own benefit. |
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http://www.investopedia.com/terms/c/chinesewall.asp
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| | Advisors |
 | | He was voted the 27th most influential business journalist by "The Journal of Financial Reporters" in February of 2001 and the 10th "Top Influencer by Media" in business magazines by ADWEEK's "Technology Marketing" in June of 2001. |  | | Educated at Oxford, he also previously wrote for Financial Times and Euromoney. |  | | Kelly's writing has appeared in many national and international publications such as the New York Times, The Economist, Time, Harpers, Science, GQ, and Esquire. |
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http://www.all-species.org/advisors.html
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| | The Tabb Group |
 | | Pushing the Envelope: Redefining Real-time Transaction Processing in Financial Markets |  | | Trading on the Future: A Brief Look at the Future of Financial Markets Technology |  | | Hedge Funds 2005: An Inside Look at Funding, Servicing, Trading, & Technology |
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http://www.tabbgroup.com/our_reports.php
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| | Lattice-Based Enforcement of Chinese Walls (ResearchIndex) |
 | | This policy arises in the financial segment of the commercial sector, which provides consulting services to other companies. |  | | ] The Chinese Wall policy is a commercial security policy found in companies providing financial consulting services to other, generally... |  | | The objective of the Chinese Wall policy is to prevent information flows which cause conflict of interest for individual consultants. |
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http://citeseer.ist.psu.edu/51061.html
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| | OpinionJournal - Extra |
 | | Providing assurances to South Korea, China and Japan that the U.S. will assume a significant share of the financial costs of any collapse of the Pyongyang regime--thereby allaying a major if largely unacknowledged source of support for continuing the regime in power. |  | | The lessons of Helsinki allow the crisis now created by the Pyongyang regime to be seen as an opportunity for, not a threat to, the free world. |  | | SUBSCRIBE TO THE WALL STREET JOURNAL ONLINE OR Copyright © 2005 Dow Jones & Company, Inc. All Rights Reserved. |
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http://www.opinionjournal.com/extra?id=110002932
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| | John Free blog computer scientist financial trading system IT credit derivatives capital markets risk management ... |
 | | Since the forums are by necessity text based, one has to spend extra time to craft a request describing an issue in clear, succinct, accurate terms, which is no mean feat for complex technical problems. |  | | Now that Microsoft no longer includes DVD decding as part of Windows XP, you need to pay extra to watch movies on your laptop on those long overseas flights. |  | | John Free blog computer scientist financial trading system IT credit derivatives capital markets risk management software C#.net java software development |
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http://www.johnfree.com/blog
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| | China |
 | | In 1998, Prime Minister Zhu Rongji introduced a sweeping program to privatize state-run businesses and further liberalize the nation's economy, a move lauded by Western economists. |  | | In June 2005, the China National Oil Corporation (Cnoc) bid $18.5 billion to take over the U.S. oil company Unocal. |  | | Following the war, several ports were opened up for trading, and Hong Kong was ceded to Britain. |
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http://www.infoplease.com/ipa/A0107411.html
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| | General Discussion - Analyst and Chinese Wall |
 | | Enter your email address or user name below and a new password will be sent to the email address associated with your profile. |  | | CFA Exam Discussion at AnalystForum for Chartered Financial Analyst candidates |  | | CFA® and Chartered Financial Analyst are trademarks owned by CFA Institute. |
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http://www.analystforum.com/phorums/read.php?f=1&t=12680&a=1
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| | What Is the "Chinese Wall"? |
 | | Historically, Wall Street analysts have been paid a combination of a base salary, a percentage based upon trading volume in the stocks that they cover, and a percentage of any investment banking deals with which they are involved. |  | | Following the crash of 1929, the government sought to provide a separation between investment bankers and brokerage firms in order to avoid the conflict of interest between objective analysis and the desire to have a successful stock offering. |  | | These packages are generally structured to reward good stock picking; however, the potential for ethical conflict is greatest in investment-banking deals. |
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http://www.investopedia.com/articles/analyst/090501.asp
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| | Conglomerate Blog: Business, Law, Economics & Society |
 | | 36 The increase in risk of conflict of interests arising from the conglomeration of financial activities can be contained by erecting ‘Chinese Walls’ among the various activities carried out by a single firm. |  | | If the term was all that offensive, I imagine that someone would have objected to its use in the Australian code. |  | | They're also quite important in allowing government agencies to hire talented lawyers, in mediating the duty of loyalty and the lawyers' desire for mobility, and in many other situations that benefit the clients themselves. |
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http://www.theconglomerate.org/2005/06/tearing_down_ch.html
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