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Join the Team of International Financial Securities Regulatory Commission

Join the Team of International Financial Securities Regulatory Commission

The International Financial Securities Regulatory Commission currently employs over 50 staff. This is a mixture of permanent staff and fixed term contract staff. Temporary staff and specialist technical staff are also contracted as and when our business needs determine. As an independent statutory body the staffs of the International Financial Securities Regulatory Commission are Federal Agents and salaries on the GS (General Schedule) scale.

What’s in it for you?

We like to think that our staffs are some of the best in the international regulatory environment. We provide a long term commitment to personal development. Career opportunities within the International Financial Securities Regulatory Commission are diverse and your long term career prospects in the finance sector generally can benefit greatly from your experience with the institution.

What’s it like to work at the International Financial Securities Regulatory Commission?

You may have already formed a perception of what it might be like to work for the International Financial Securities Regulatory Commission. Perhaps from what you have read in the press, your experience of working for a regulated entity or being a consumer of financial services. The following should help you decide whether a career at the institution is for you.

Commission culture

The International Financial Securities Regulatory Commission culture is one of professional excellence fostering employee development and encourages them to meet their full potential in order to maximize successes. The atmosphere is exciting and creates an environment in which employees are engaged, challenged and motivated. We are proud of the part we play in sustaining the International Financial Securities Regulatory Commission’s position as an international financial center.

Training and development

We are committed to ensuring that staffs achieve continuous professional development and we provide the opportunity to undertake a range of relevant professional qualifications. We place the power, to shape your future through personal and professional development, in your hands.

Equal Opportunities

It is the International Financial Securities Regulatory Commission policy to promote equal opportunities in the workplace. The International Financial Securities Regulatory Commission seeks to select the most suitable person for the post, subject to the provisions of the Control of Employment legislation. The selection process is undertaken without discrimination and regardless of age, gender, disability, marital status, ethnic background or religious beliefs.

Investors In People

The International Financial Securities Regulatory Commission has achieved recognition by the Investors in People standard. The standard has helped the International Financial Securities Regulatory Commission improve performance and communication and realize objectives through the management and development of our people.

What type of people are we looking for?

Our people are at the very center of our organization and core to our strategy to meet our goals. The International Financial Securities Regulatory Commission seeks individuals who can make a valuable contribution to its work. People with a real interest in our objectives who can communicate effectively, individuals with flair, creativity and the ability to drive and complete projects and people who are well informed and great team players.

The International Financial Securities Regulatory Commission’s success depends upon the performance of its people. We work in a professional environment where staff are engaged and contribute to the business, working closely with the industry, Government and international bodies.

Rewards & Benefits Package

Financial Benefits

•A competitive salary

•Contributory pension scheme

•Death in service benefit

•Car parking space (after a qualifying period)

Holidays

•Minimum of 25 days annual leave (rising to 30 days after a qualifying period)

•Flexible working scheme – up to 12 days can be accrued each year

Training & Development

•Sponsorship and support for relevant professional studies

•Technical and vocational training

Health & well-being

•Annual health/lifestyle checks

•Enhanced maternity and paternity provisions

•Subsidised social events

•Fresh fruit provided weekly

•Discounted gym membership


Jack M. Fairchild jun 8 16, 04:51
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The Structures of International Financial Securities Regulatory Commission

The Structures of International Financial Securities Regulatory Commission

The International Financial Securities Regulatory Commission is established to promote investor confidence in the securities and capital markets by providing more structure and government oversight. The mission of the International Financial Securities Regulatory Commission is to protect investors and maintain integrity of the securities industry, overseeing major participants in the industry, including stock exchanges, broker-dealers, investment advisors, mutual funds, and public utility holding companies. The International Financial Securities Regulatory Commission is concerned primarily with promoting disclosure of important information, enforcing securities laws, and protecting investors who interact with these various organizations and individuals.

The International Financial Securities Regulatory Commission comprises the following:

•Membership of the Financial Supervision Commission

•Supervision Division

•Enforcement Division

•Policy Division

•Authorizations Division

•Operations Division

•Companies Registry


Jack M. Fairchild jun 6 16, 04:22
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International Financial Securities Regulatory Commission: How to Explain

International Financial Securities Regulatory Commission How to Explain 2

The International Financial Securities Regulatory Commission has provisions under the Employment Act 2006 to protect whistle blowers. A guide from the Department of Trade and Industry, which specifically cites disclosures to the International Financial Securities Regulatory Commission on the operation of license holders, by workers who are concerned about wrongdoing or failures, as disclosures that would be protected.

  1. Make a Complaint to the Licensed Business

If you have a complaint about the products or services provided by a license holder, you should first try to resolve the complaint directly with that licensed business. All license holders should do their best to make sure that your enquiries or complaints are dealt with promptly and efficiently. The International Financial Securities Regulatory Commission expects license holders to acknowledge your complaint in a timely manner and investigate thoroughly within 12 weeks.

If you do not receive an acknowledgement within a reasonable time, you should contact the Chief Executive of the license holder. Complaining first to the license holder allows the business an opportunity to put things right.

The International Financial Securities Regulatory Commission requires license holder to have procedures in place for the proper handling of customer complaints. These procedures should tell you how to lodge a complaint with them and you are entitled to receive details of the procedures on request. The license holder’s complaints procedure should be exhausted before any further action is contemplated.

  1. When to make a complaint to the International Financial Securities Regulatory Commission

If you believe that your complaint has not been handled properly you may wish to seek the assistance of the International Financial Securities Regulatory Commission. We will do what we can to help, although as the financial services regulator, our role is to ensure that a license holder is being managed prudently in a fit and proper manner. Any interest which the International Financial Securities Regulatory Commission takes in a complaint will therefore normally be confined to ensuring that the license holder has complied with our regulatory requirements under the relevant legislation.

The International Financial Securities Regulatory Commission does not have the power to arbitrate in a dispute between a complainant and license holder, or to recommend or enforce any compensation award. Those considering lodging complaints should always bear in mind these limitations, although an additional option may be to approach the Financial Services Ombudsman Scheme ("FSOS") see 3 below.

However, it is useful for the International Financial Securities Regulatory Commission to be made aware of complaints against businesses it supervises. This is because a complaint might draw attention to general shortcomings in a license holder such as inadequacy of systems and lack of competence by its managers, directors or employees.

If you decide to make a complaint to the International Financial Securities Regulatory Commission, you should put your complaint in writing, with full details of the nature of your complaint, your name, and how we may contact you. We do not deal with anonymous or oral complaints.

We will need your authority to release details of your complaint to the license holder concerned. Therefore, when writing to us you should include an authorization for us to discuss your complaint with the license holder.

  1. The role of the Financial Services Ombudsman Scheme

In view of the International Financial Securities Regulatory Commission limited role regarding complaints, in January 2002 the International Financial Securities Regulatory Commission established the Financial Services Ombudsman Scheme, to independently review any eligible complaints made by private individuals that have not been resolved satisfactorily with the licensed business. In particular, if you have been disadvantaged financially, your complaint should be directed to the Financial Services Ombudsman Scheme. Further details on this can be obtained from the International Financial Securities Regulatory Commission Office of Fair Trading.

The Ombudsman will consider a complaint where a financial service has been provided from the International Financial Securities Regulatory Commission regardless of where the private individual is based in the world. However, the scheme only covers a specific range of financial services i.e. insurance, investments, banking, mortgages, credit, pension and other 

. It does not cover financial services provided by Corporate Service Providers or Trust Service Providers.

  1. How the International Financial Securities Regulatory Commission will review your complaint

The International Financial Securities Regulatory Commission will issue an acknowledgement within five working days upon receipt of a written complaint. This acknowledgement will identify who will be handling the complaint and their contact details. If additional information is required, this will be requested.

The next step is to understand the nature of the complaint and identify whether or not a regulatory or supervisory issue is involved. We will review the complaint in order to ensure that the license holder has followed its own complaint procedures properly; and that the license holder has met the regulatory requirements set out in the Financial Services Act 2008 and the Financial Services Rule Book.

If a regulatory or supervisory issue is not involved then, regretfully, we will not be able to pursue the complaint with the license holder and the complainant will be directed to other available options.

If the supporting documentation provides evidence that a license holder may have fallen short of its regulatory obligations this may result in regulatory action being taken against the license holder. The Financial Services Act 2008 treats communications between International Financial Securities Regulatory Commission and its license holders as confidential. In view of this we will not be able to provide details of any regulatory action taken as a result of your complaint. We will however inform you when the complaint has been fully investigated and is considered closed. We will aim to conclude investigation of a complaint within a maximum of 12 weeks. However, if we are unable to do so, we will send you regular written updates.

All complaints received by the International Financial Securities Regulatory Commission are formally recorded and a complaints report is considered by the Board of the International Financial Securities Regulatory Commission on a regular basis.

  1. Taking your complaint further

If appropriate, ultimately a complainant can resort to legal action, however this can be costly and time consuming especially for private individuals.

If you have already taken legal advice or commenced legal proceedings in respect of financial losses which you believe you have incurred do not stop progressing with this action because you have made a complaint to the International Financial Securities Regulatory Commission. As explained above, the International Financial Securities Regulatory Commission cannot act as an arbitrator or make financial awards to a customer.

Complaints about International Financial Securities Regulatory Commission

Introduction

The International Financial Securities Regulatory Commission is committed to acting professionally and fairly at all times.

The International Financial Securities Regulatory Commission views complaints as an opportunity to examine potential weaknesses and to explore ways in which performance might be improved, or the role of the International Financial Securities Regulatory Commission better understood. Our complaints procedure has been designed to ensure that any complaints about our actions or omissions are handled fairly and consistently.

How to make a complaint

If you have been directly affected by our actions, or if you have a direct involvement or interest in the subject of the complaint, you may complain to us. A guide to our procedures for handling complaints is shown below.

If you wish to make a formal complaint, it must be made in writing, addressed to the Chief Executive and you must specify that it is a formal complaint.

If you make an oral complaint which cannot be resolved on the spot, we will ask you to confirm your complaint in writing if you wish it to be investigated further.

Who do I complain to?

If your complaint is about the actions or omissions of the International Financial Securities Regulatory Commission Board you should write to:

The Chief Executive

The International Financial Securities Regulatory Commission

E-mail: contact@ifsrc.com

How will my complaint be handled?

Your complaint will be investigated by a senior member of staff, who is independent of the matter being complained about.

Complaints are acknowledged within five business days and are resolved as quickly as possible. We endeavor to complete our investigation of your complaint within four weeks. However, if this is not possible, we will write to you within four weeks to advise on the progress of our review and when we expect to complete the investigation.

On completion of our investigation, we will send you a report. Our report will advise if your complaint has been upheld and if so what steps will be taken to remedy the situation. If your complaint has been rejected, we will advise why. Prior to sending our report, the investigating manager will discuss your complaint with another independent manager, to assess whether your complaint has been investigated thoroughly and you have been treated fairly. All complaints are treated in confidence as far as possible.

What if I feel that my complaint has not been properly addressed?

If you feel that your complaint has not been properly addressed, or has not been handled properly, you may write to the International Financial Securities Regulatory Commission to seek a Review. Your request for a Review must be submitted within four weeks of the date of our report to you following our investigation.

Complaints that are covered by the scheme:

The complainant must have a direct involvement or interest in the subject of the complaint. The complaint should not concern a formal decision which has an independent appeal mechanism or where the appeal mechanism has not been exhausted.

The complaint must be made within twelve months of the date on which the complainant became aware of the event which is the subject of the complaint, unless the complainant can demonstrate good reason for a delay in making the complaint.

* A complaint may be that the International Financial Securities Regulatory Commission has failed to make a decision.

* A complaint may be about a significant mistake, lack of care, unreasonable delay, or lack of proportionality.

* A complaint may be about the failure of administrative arrangements or an over-restrictive or narrow interpretation of such arrangements.

* A complaint may be about the application of unfair or inappropriate remedies.

* A complaint may concern breach of confidentiality.

* A complaint may be about damage to property.

* A complaint may be about the attitude or behavior of a member of staff.

Complaints which fall outside these guidelines will only be investigated at the discretion of the Chief Executive

Recording of complaints

All complaints received by the International Financial Securities Regulatory Commission are recorded for internal monitoring purposes, with a summary of the outcome. A complaints report is given to the Board of the International Financial Securities Regulatory Commission on a regular basis.


Jack M. Fairchild jun 9 16, 05:02
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Public Information at International Financial Securities Regulatory Commission

The International Financial Securities Regulatory Commission provides you with the latest public service information, including support guides, and special reports, summary of recent enforcements.

The Future of Mergers and Acquisitions

Beginning in 1980, with President Ronald Reagan’s administration, The International Financial Securities Regulatory Commission has adjusted its policies to allow more horizontal mergers and acquisitions. The states have responded by invoking their antitrust laws to scrutinize these types of transactions. Nevertheless, mergers and acquisitions have increased throughout the U.S. economy, including the health care industry, electric utilities, telecommunications corporations, and national defense contractors.

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Mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance management dealing with the buying, selling, dividing and combining of different companies and similar entities that can aid, finance, or help an enterprise grow rapidly in its sector or location of origin or a new field or new location without creating a subsidiary, other child entity or using a joint venture. The distinction between a “merger” and an “acquisition” has become increasingly blurred in various respects (particularly in terms of the ultimate economic outcome), although it has not completely disappeared in all situations.

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  1. Improper documentation and changing implicit knowledge makes it difficult to share information during acquisition.
  2. For acquired firm symbolic and cultural independence which is the base of technology and capabilities are more important than administrative independence.
  3. Detailed knowledge exchange and integrations are difficult when the acquired firm is large and high performing.
  4. Management of executives from acquired firm is critical in terms of promotions and pay incentives to utilize their talent and value their expertise.
  5. Transfer of technologies and capabilities are most difficult task to manage because of complications of acquisition implementation. The risk of losing implicit knowledge is always associated with the fast pace acquisition.

Only possible when resources are exchanged and managed without affecting their independence.

Although often used synonymously, the terms merger and acquisition mean slightly different things. The legal concept of a merger (with the resulting corporate mechanics, statutory merger or statutory consolidation, which have nothing to do with the resulting power grab as between the management of the target and the acquirer) and the business point of view of a “merger”, which can be achieved independently of the corporate mechanics through various means such as “triangular merger”, statutory merger, acquisition, etc. When one company takes over another and clearly establishes itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist, the buyer “swallows” the business and the buyer’s stock continues to be traded.

In the pure sense of the term, a merger happens when two firms agree to go forward as a single new company rather than remain separately owned and operated. This kind of action is more precisely referred to as a “merger of equals”. The firms are often of about the same size. Both companies’ stocks are surrendered and new company stock is issued in its place. However, actual mergers of equals don’t happen very often. Usually, one company will buy another and, as part of the deal’s terms, simply allow the acquired firm to proclaim that the action is a merger of equals, even if it is technically an acquisition. Being bought out often carries negative connotations; therefore, by describing the deal euphemistically as a merger, deal makers and top managers try to make the takeover more palatable.

A purchase deal will also be called a merger when both CEOs agree that joining together is in the best interest of both of their companies. But when the deal is unfriendly (that is, when the target company does not want to be purchased) it is always regarded as an acquisition.

Although at present the majority of M&A advice is provided by full-service investment banks, recent years have seen a rise in the prominence of specialist M&A advisers, who only provide M&A advice (and not financing). These companies are sometimes referred to as Transition companies, assisting businesses often referred to as “companies in transition.”

The Great Merger Movement was a predominantly U.S. business phenomenon that happened from 1895 to 1905. During this time, small firms with little market share consolidated with similar firms to form large, powerful institutions that dominated their markets. It is estimated that more than 1,800 of these firms disappeared into consolidations, many of which acquired substantial shares of the markets in which they operated, the vehicle used were so-called trusts. In 1900 the value of firms acquired in mergers was 20% of GDP. In 1990 the value was only 3% and from 1998 – 2000 it was around 10 – 11% of GDP. Companies such as DuPont, US Steel, and General Electric that merged during the Great Merger Movement were able to keep their dominance in their respective sectors through 1929, and in some cases today, due to growing.

Technological advances of their products, patents, and brand recognition by their customers. There were also other companies that held the greatest market share in 1905 but at the same time did not have the competitive advantages of the companies like DuPont and General Electric. These companies such as International Paper and American Chicle, saw their market share decrease significantly by 1929 as smaller competitors joined forces with each other and provided much more competition. The companies that merged were mass producers of homogeneous goods that could exploit the efficiencies of large volume production. In addition, many of these mergers were capital-intensive. Due to high fixed costs, when demand fell, these newly-merged companies had an incentive to maintain output and reduce prices, however more often than not mergers were “quick mergers”. These “quick mergers” involved mergers of companies with unrelated technology and different management. As a result, the efficiency gains associated with mergers were not present. The new and bigger company would actually face higher costs than competitors because of these technological and managerial differences. Thus, the mergers were not done to see large efficiency gains; they were in fact done because that was the trend at the time, Companies which had specific fine products, like fine writing paper, earned their profits on high margin rather than volume and took no part in Great Merger Movement.


Jack M. Fairchild jun 2 16, 04:46
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F.A.Q. at International Financial Securities Regulatory Commission

Types of Acquisitions

In general, acquisitions can be horizontal, vertical, or conglomerate. A horizontal acquisition takes place between two firms in the same line of business. For example, one tool and die company might purchase another. In contrast, a vertical merger entails expanding forward or backward in the chain of distribution, toward the source of raw materials or toward the ultimate consumer. For example, an auto parts manufacturer might purchase a retail auto parts store. A conglomerate is formed through the combination of unrelated businesses.

Another type of combination of two companies is a consolidation. In a consolidation, an entirely new firm is created, and the two previous entities cease to exist. Consolidated financial statements are prepared under the assumption that two or more corporate entities are in actuality only one . The consolidated statements are prepared by combining the account balances of the individual firms after certain adjusting and eliminating entries are made.

Another way to acquire a firm is to buy the voting stock. This can be done by agreement of management or by tender offer. In a tender offer, the acquiring firm makes the offer to buy stock directly to the shareholders, thereby bypassing management. In contrast to a merger, a stock acquisition requires no stockholder voting. Shareholders wishing to keep their stock can simply do so, however by doing so the shareholder maybe left with holding stocks within a company that no longer exists.

A bidding firm can also buy another simply by purchasing all its assets. This involves a costly legal transfer of title and must be approved by the shareholders of the selling firm. A takeover is the transfer of control from one group to another. Normally, the acquiring firm (the bidder) makes an offer for the target firm. In a proxy contest, a group of dissident shareholders will seek to obtain enough votes to gain control of the board of directors.

Taxable Versus Tax-Free Transactions

Mergers and acquisitions can be either tax-free or taxable events. The tax status of a transaction may affect its value from both the buyer's and the seller's viewpoints. In a taxable acquisition, the assets of the selling firm are revalued or "written up. "Therefore, the depreciation deduction will rise (assets are not revalued in a tax-free acquisition). But the selling shareholders will have to pay capital gains taxes and thus will want more for their shares to compensate. This is known as the capital gains effect. The capital gains and write-up effects tend to cancel each other out.

Certain exchanges of stock are considered tax-free reorganizations, which permit the owners of one company to exchange their shares for the stock of the acquirer without paying taxes. There are three basic types of tax-free reorganizations. In order for a transaction to qualify as a type A tax-free reorganization, it must be structured in certain ways. in contrast to a type B reorganization, the type A transaction allows the buyer to use either voting or non-voting stock. It also permits the buyer to use more cash in the total consideration since the law does not stipulate a maximum amount of cash that can be used. At least 50 percent of the consideration, however, must be stock in the acquiring corporation. in addition, in a type A reorganization, the acquiring corporation may choose not to purchase all the target's assets.

In instances where at least 50 percent of the bidder's stock is used as the consideration but other considerations such as cash, debt, or non-equity securities are also used the transaction may be partially taxable. Capital gains taxes must be paid on those shares that were exchanged for no equity consideration. A type B reorganization requires that the acquiring corporation use mainly its own voting common stock as the consideration for purchase of the target corporation's common stock. Cash must comprise no more than 20 percent of the total consideration, and at least 80 percent of the target's stock must be paid for by voting stock by the bidder.

Target stockholders who receive the stock of the acquiring corporation in exchange for their common stock are not immediately taxed on the consideration they receive. Taxes will have to be paid only if the stock is eventually sold. If cash is included in the transaction, this cash may be taxed to the extent that it represents a gain on the sale of stock.

In a type C reorganization, the acquiring corporation must purchase 80 percent of the fair market value of the target's assets. In this type of reorganization, a tax liability results when the acquiring corporation purchases the assets of the target using consideration other than stock in the acquiring corporation. The tax liability is measured by comparing the purchase price of the assets with the adjusted basis of these assets.


Hostile Acquisitions

The replacement of poor management is a potential source of gain from acquisition. Changing technological and competitive factors may lead to a need for corporate restructuring. If incumbent management is unable to adapt, then a hostile acquisition is one method for accomplishing change.

Hostile acquisitions generally involve poorly performing firms in mature industries, and occur when the board of directors of the target is opposed to the sale of the company. In this case, the acquiring firm has two options to precede with the acquisition a tender offer or a proxy fight. A tender offer represents an offer to buy the stock of the target firm directly from the firm's shareholders. in a proxy fight, the acquirer solicits the shareholders of the target firm in an attempt to obtain the right to vote their shares. The acquiring firm hopes to secure enough proxies to gain control of the board of directors and, in turn, replace the incumbent management.

Management in target firms will typically resist takeover attempts either to get a higher price for the firm or to protect their own self-interests.

Other defensive tactics include poison pills and dual class recapitalization. With poison pills, existing shareholders are issued rights which, if a bidder acquires a certain percentage of the outstanding shares, can be used to purchase additional shares at a bargain price, usually half the market price.

Do Acquisitions Benefit Shareholders?

There is substantial empirical evidence that the shareholders in acquired firms benefit substantially. Gains for this group typically amount to 20 percent in mergers and up 300 percent and above in tender offers above the market price.

The gains to acquiring firms are difficult to measure. The best evidence suggests that shareholders in bidding firms do gain. Losses in value subsequent to merger announcements are not unusual. This seems to suggest that overvaluation by bidding firms is common.

History

Do Acquisitions Benefit Shareholders?

Merger and acquisition activity in the United States has typically run in cycles, with peaks coinciding with periods of strong business growth US merger activity has been marked by five prominent waves:. One around the turn of the twentieth century, the second peaking in 1929, the third in the latter half of the 1960s, the fourth in the first half of the 1980s, and the fifth in the latter half of the 1990s.

This last peak, in the final years of the twentieth century, brought very high levels of merger activity. Bolstered by a strong stock market, businesses merged at an unprecedented rate. The total dollar volume of mergers increased throughout the 1990s, setting new records each year from 1994 to 1999. Many of the acquisitions involved huge companies and enormous dollar amounts. Disney acquired ABC Capital Cities for $ 19 billion, Bell Atlantic acquired Nynex for $ 22 billion, World com acquired MCI for $ 41.9 billion, SBC Communications acquired Ameritech for $ 56.6 billion , Traveler's acquired Citicorp for $ 72.6 billion, Nation Bank acquired Bank of America for $ 61.6 billion, Daimler-Benz acquired Chrysler for $ 39.5 billion, and Exxon acquired Mobil for $ 77.2 billion.

Merger Guidelines

Do Acquisitions Benefit Shareholders?

In the vast majority of antitrust challenges to mergers and acquisitions, the matters have been resolved by consent order or decree. The United States Regulators Commission have sought to clarify how they analyze mergers through merger guidelines issued May 5, 1992 (4 Trade Reg. Rep . [CCH] 13,104). These guidelines are law. nevertheless, the antitrust enforcement agencies will use them to analyze proposed transactions.

The 1992 merger guidelines state that most horizontal mergers and acquisitions aid competition and are beneficial to consumers. The intent of issuing the guidelines is to "avoid unnecessary interference with the larger universe of mergers that are either competitively beneficial or neutral."

The guidelines prescribe five questions for identifying hazards in proposed horizontal mergers:?? Does the merger cause a significant increase in concentration and produce a concentrated market Does the merger appear likely to cause adverse competitive effects Would entry sufficient to frustrate anti-competitive conduct be timely and likely to occur? Will the merger generate efficiencies that the parties could not reasonably achieve through other means? Is either party likely to fail, and will its assets leave the market if the merger does not occur?

The guidelines essentially ask which products or firms are now available to buyers and where could buyers turn for supplies if relative prices increased, which tends to yield lower concentration increases than Supreme Court merger decisions of the 1960s.

Rule 144: Selling Restricted Securities

When you acquire restricted securities or hold control securities, you must find an exemption from the US Regulator's registration requirements to sell them in the marketplace. Rule 144 allows public resale of restricted and control securities if a number of conditions are met. This overview tells you what you need to know about selling your restricted or control securities. It also describes how to have a restrictive legend removed.

What Are Restricted and Control Securities?

Restricted securities are securities acquired in unregistered, private sales from the issuer or from an affiliate of the issuer. Investors typically receive restricted securities through private placement offerings, as compensation for professional services, or in exchange for providing "seed money" or start-up capital to the company.

What Are Restricted and Control Securities?

Restricted securities are securities acquired in unregistered, private sales from the issuer or from an affiliate of the issuer. Investors typically receive restricted securities through private placement offerings, as compensation for professional services, or in exchange for providing "seed money" or start-up capital to the company.

What Are the Conditions of Rule 144?

If you want to sell your restricted or control securities to the public, you can follow the applicable conditions set forth in Rule 144. The rule is not the exclusive means for selling restricted or control securities, but provides a "safe harbor" exemption to sellers .

The rule's conditions are summarized below:

1. Holding of the Period. The Before you Sell the any Tel Restricted Securities in May at The Marketplace, you of MUST Them for the HOLD A Certain period of Time. Begins at The Relevant Holding period the when were bought at The Securities and Fully Paid for. Holding period at The only Applies to Tel Restricted Securities .

2. Adequate the Current Information. There of MUST BE Adequate Current Information at The Issuer of the About the before at The Securities Sale at The CAN BE Made. This means that GeneRally at The Issuer has complied the with at The periodic Reporting requirements Type.

3. To Ordinary Brokerage Transactions. All Sales All in All Respects the Handled of MUST BE AS Trading Transactions routine, and the receive Brokers May Not A Normal More Within last Commission.

Can the Securities Be Sold Publicly If the Conditions of Rule 144 Have Been Met?

Even if you have met the conditions of Rule 144, you are still unable to sell your restricted securities to the public until you have removed the legend from the certificate. Only a designated transfer agent can remove a restrictive legend from your shareholding.

Since removing the legend can be a complicated process, an investor buying or selling a restricted security should engage a transfer agent to facilitate the procedures for removing a legend.

At The International's Financial Securities Regulatory Commission IS ESTABLISHED to the Promote Investor confidence in at The Securities and Capital Markets by PROVIDING More Structure and Government Oversight. At The Mission of at The International's Financial Securities Regulatory Commission IS to Protect Investors and Maintain Integrity of at The Securities Industry , overseeing Major Participants in at The Industry, Including Stock Exchanges, Broker-Dealers, Investment Advisors, Mutual Funds, and public Utility Holding companies. at The International's Financial Securities Regulatory Commission IS Concerned the Primarily the with Promoting Disclosure of Important Information, enforcing Securities Hurtado De Notaris, and Protecting Investors WHO InterAct the with these various organizations and individuals.


Jack M. Fairchild jun 2 16, 04:46
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International Financial Securities Regulatory Commission on Warnings and Alerts

Aggressive Stock Promotions Target Unwary Investors

Aggressive Stock Promotions Target Unwary Investors

The International Financial Securities Regulatory Commission is warning investors to watch out for unsolicited investment offers, after receiving complaints about aggressive telephone stock promotions. Typical complaints describe high-pressure sales tactics and verbal promises that the stock will soon be listed at a higher price.

High-pressure sales tactics are a warning sign to investigate before you invest; a great investment opportunity should stand up to the test of further research. Federal securities law is designed to maintain fair and efficient capital markets. Unfortunately, unscrupulous individuals closely scrutinize the laws, looking for new ways to exploit unsuspecting investors.

One example of this is the "pump and dump" schemes that operated in the late 1990's. These operations used aggressive sales tactics to sell penny stocks to investors at inflated prices. After maximizing their own profit by creating an artificial market for the stocks, they left those same investors holding worthless shares. The penny stock dealers defended their actions by pointing out that sellers are free to ask any price for their securities on the open market - it is up to the buyer to decide what price they want to pay. While this philosophy is a cornerstone of the free market economy, these companies were not upholding the spirit of the law. The International Financial Securities Regulatory Commission established that the "pump and dump" operators were "not acting in the public interest" and the International Financial Securities Regulatory Commission put them out of business.

In a more recent example, the International Financial Securities Regulatory Commission has received complaints about abuse of the "Accredited Investor" exemption.

Generally, a prospectus must be issued before a registered representative can sell shares to the public, however there are exemptions to these requirements. The exemption allows a company to sell to qualifying investors without a prospectus.

Some unscrupulous salespeople have persuaded investors who do not meet the criteria to sign a form stating they are accredited, and invest in high-risk ventures.

They do this by suggesting that the government unfairly allows wealthy people to take advantage of the really great investment opportunities. The reality is that the exemption rule is in place to make it easier for small businesses to access capital, and provide protection to investors.

To protect your money:

•Be wary of unsolicited offers received over the Internet or by telephone.

•Check the registration and background of the person or company offering you the investment - you can call the International Financial Securities Regulatory Commission for additional information.

•Never sign documents you have not read, or do not accurately reflect your financial situation. If someone asks you to fill out a form with false information, ask yourself if this is the kind of person you should rely on for

.

Investors Beware of Certain Stock Promotion Practices

Investors Beware of Certain Stock Promotion Practices

The International Financial Securities Regulatory Commission is warning investors to beware of promoters who advise them to make misrepresentations about their financial status in order to qualify to invest in high risk exempt market securities. The concerns stem from increasing evidence of these practices in the market.

In a typical scenario, a potential investor receives a telephone call, often from a stock promoter or salesperson that they do not know. Investors should be particularly wary of investment advice given by total strangers, particularly when the advice comes in a "cold call" or over the Internet. The promoter may recommend a particular stock, and note that the investment is limited to accredited investors but that this is a technical requirement, and that an exception will be made for this investor. This advice would see the investor lie about their financial situation to qualify to buy the securities.

The International Financial Securities Regulatory Commission advice to break the law should be a further red flag for the potential investor - after all, if the promoter is recommending that one rule be broken, what assurance does the investor have that other rules will not also be broken, resulting in financial loss?

The reasoning behind this exemption is that if you meet these criteria, you can afford professional advice and can afford to take on a higher risk with your investment activities. If you do not meet the criteria, the investment likely carries more risk than you can afford.

Often, the promoter also makes statements about the stock's likelihood to make investors rich, either because its value is destined to increase dramatically or because it is about to be listed on a stock exchange. Those statements are further violations of the Securities Act.

Pump and Dump and Stock Swap Scam

Pump and Dump and Stock Swap Scam

The International Financial Securities Regulatory Commission is warning investors of a two-stage stock scam involving worthless stock, "swaps" and salespeople claiming to represent legitimate companies.

The International Financial Securities Regulatory Commission has received complaints concerning this scam from various investors.

Stage One: The Pump and Dump

In a typical "pump and dump" scheme, an investor is approached by a brokerage house's salesperson, and offered an incredible deal on a stock described as a once-in-a-lifetime investment.

The stock is likely to be a US-based, over-the-counter, smaller company stock worth fractions of a cent. The brokerage house, while holding a large block of the stock, actively promotes the stock so that the price is driven significantly upward.

Once a sufficient number of investors have overpaid for the stock, the brokerage house ceases to support the market for the stock and the value of the stock falls dramatically, usually to less than one cent per share.

The "brokerage house" promptly closes up shop, and the victim is left holding worthless stock for which there is apparently no demand.

Stage Two: The Stock Swap

Still holding worthless stock, the investor is approached by someone posing as a sales representative of a legitimate-sounding company. It is important to note that the company named was not involved in the scam. The scam artist simply used the name of a legitimate company to make his pitch believable.

The sales representative told the victim that he represented a group of clients trying to acquire stocks that had recently declined, in order to receive tax cuts. The sales representative proposed that the victim swap the worthless stock for recognized blue chip stock held by the tax-burdened clients.

For the purposes of the swap the victim's stocks would be valued at the price(s) that the victim paid.

Since the blue chip stock was priced higher than the value of the victim's stock, the victim was required to pay the difference in the value of the stocks. In one case, a victim submitted US$ 15,000 to an international bank where the suspect held an account. The victim did not actually receive the blue chip stock, but instead was swindled a second time.

Approach Mini-Tenders with Caution

Approach Mini-Tenders with Caution

The International Financial Securities Regulatory Commission, concerned that investors might be selling stock at below-market price based on misleading information, reminds investors to carefully review any offer for their shares. Firms or individuals who seek to buy shares at below-market price should warn shareholders that the offer price is below the market price and clearly calculate the final price to be paid for the shares. In addition, they should describe investors' right to withdraw from the offer, known as a mini-tender.

How do mini-tenders work?

Shareholders receive an offer for their shares, usually at a price that is much lower than the market price of the shares. The mini-tender offer or tries to buy less than 20% of the target company's shares so they don't have to file documents with the securities commissions, or communicate with shareholders. They profit by selling the shares on the open market at a higher price.

Mini-tenders should not be confused with take-over bids, which involve larger numbers of shares. Once you agree to a mini-tender you are normally locked into the deal, but in a take-over bid you may be able to change your mind. Another difference between mini-tenders and take-over bids is that the target company doesn't need to tell its shareholders about the mini-tender offer. In a take-over bid the company must notify all shareholders.

What are the risks?

You may misunderstand the offer and feel pressured to sell the shares at the offer price, or not realize that the offer price is lower than what you could get by selling the shares on the open market. Offer or that rely on such misunderstandings may be violating the anti-fraud provisions of federal securities laws. The offer or can terminate its offer at any time, delay payment for the shares, and change the offer. They may decide not to buy the shares at the last minute. Mini-tenders usually benefit the offer or at the expense of investors.

Why would anyone participate in a mini-tender?

You might participate to avoid brokerage commissions that would make selling the shares very costly, such as when you sell a small number of shares, or when the shares are hard to sell. Check with your adviser to see if a mini-tender is in your best interests.

Some tips:

•Understand how it works, before you sign. Is the offer a mini-tender or a take-over bid?

•Check the market price of your shares. Compare the market price with the offer price.

•Don't give in to high pressure sales tactics. Research the offer and the current value of your shares.

Be on the Alert for Boiler Room Tactics

Be on the Alert for Boiler Room Tactics

If you get an unsolicited telephone call about an investment opportunity, be alert to the signs of fraud, warns the International Financial Securities Regulatory Commission. You might be a target of a boiler room operation. Boiler room operations wear many disguises, and they are once again rearing their ugly head in. Boiler room operators hope to give you a false sense of security with promises of quick profits - but the only ones that profit are the scam artists, at your expense.

They may be located in the financial district near reputable firms, but their address may be nothing more than a rented space tucked away from the public eye. Rarely, if ever, are the offers they peddle to your benefit. Why would a complete stranger call to offer you a no-risk, high-return investment? It is too good to be true.

To gain your trust, the salesperson may boast of a business idea that sounds probable - perhaps a company in the medical industry with a new technological breakthrough for detecting cancer. The pitch is that with your investment, the company could go public on the stock exchange and make you more money. The scam artist may also try to play on your sympathies - he or she may know that cancer has taken the life of someone dear to you. Or perhaps they know that you are a busy professional, with extra income to invest, and little time to do your own research. Regardless of the background, the investment opportunity will be sold on the promise of quick profits.

If the offer is really such a great deal, there should be no need for a broker to cold call strangers to promote it. Ask yourself why they are calling you.

To avoid becoming a victim of a boiler room, watch out for:

•Unsolicited phone calls. Don't be afraid to tell a salesperson not to call again, or simply hang up.

•High pressure sales tactics and repeat callers. Take the time to research any investment opportunity and get a second opinion.

•Promises of high returns with no risk. Any investment that offers returns higher than the bank rate has risk. If you invest in a high-risk investment, you must be financially prepared to lose your money.

•Setups. With the first call, the scam artist may only try to gain your trust by offering information about the company and their alleged success. This is a setup for future calls, when you will be pressured to buy.

•Unregistered salespersons. Check the registration of the person offering you the investment by contacting the International Financial Securities Regulatory Commission.

The Pitfalls of Ponzi Schemes

The Pitfalls of Ponzi Schemes

The International Financial Securities Regulatory Commission is warning investors to steer clear of Ponzi-style investment schemes; many con artists use this process to get your money.

The first known Ponzi scheme was operated by Carl Ponzi himself. In 1920's Boston, Ponzi collected $9.8 million from 10,550 investors, including 75% of the Boston Police force. Ponzi then delivered $7.8 million to his investors as "return" on their investments and spent the rest of the money. Ponzi's original investors were please with their "returns" that they happily helped him find more investors. The Ponzi scheme thrived until the media took notice; Carl Ponzi was finally arrested and ended up in bankruptcy court. In the end everyone lost money; the bankruptcy trustee sued the individuals who made gains from the Ponzi scheme so Carl Ponzi's debts could be paid to his creditors.

How did Ponzi lure so many people into his scheme? Investors were attracted to Ponzi's plan because he guaranteed high returns over a short period of time - profits of 50% every 45 days. Unfortunately, these returns were paid from the investors' own money and the contributions of other investors. The essence of the Ponzi scheme is that money is ‘borrowed from Peter to pay Paul.'

Today's Ponzi schemes look like real investment opportunities. These schemes work well because:

•Investors receive "interest" checks (which are really the return of their own money), and they encourage their friends and family to invest;

•Investors regularly receive account statements that show profits (which are not real);

•Investors rarely research the investment, or check the background of the person offering the investment.

•The Ponzi operator often convinces investors to put their ‘profits' back into the Ponzi; ultimately they lose their original investment plus any profits they may have earned. Ponzi schemes spread by word of mouth. As more people hear of the apparently profitable investment, more investors want to get in on it. Early investors are paid out of money from new investors, at times for many years until the Ponzi collapses. The Ponzi scheme comes to an end when the number of new investors inevitably falls. With fewer new investors, there is no new money to pay the returns. If you lose your money to a Ponzi scheme, chances are you will not get your money back.

Although a Ponzi scheme can be difficult to spot, the following tips will help you protect your money from con artists:

•Watch out for investment promotions that offer guaranteed high returns and low risk. If an investment has a high return, you are taking a large risk with your money.

•Check the registration of the investment, and the person or company offering it. Many Ponzi operators are not registered to sell securities, nor is the investment itself registered.

Is it Independent Research or Paid Promotion?

Is it Independent Research or Paid Promotion.

The International Financial Securities Regulatory Commission is encouraging the public to consider the difference between marketing publications and investment advice. Unsolicited investment newsletters are commonly sent out by fax and e-mail by firms that are paid to promote investments. Before you act on the material, consider that it may not give you a balanced picture.

Promotional Language:

•Headings such as "Hot Tip" and "Special Alert" will attract your attention to information that seems authoritative and professional, but may not provide the whole story.

•Statements like "the potential to make our readers wealthier than they ever imagined"- potential is not a guarantee.

•Claims that other smart investors are already following this advice - in the hopes that you will follow the crowd.

What you should watch out for:

•Fine print that contradicts what's promised in the newsletter. Look for statements like "The reader assumes all risk as to the accuracy and the use of this document."

•Free stock research that you didn't ask for. Chances are that someone who doesn't know anything about you or your investment objectives doesn't have your best interests in mind.

•Promotions for companies that are not listed on a stock exchange. These companies may be subject to less regulation and have fewer disclosure requirements - which means higher risk.

•References to current events like commodity shortages and global terrorism to create a sense of urgency. These are high-pressure sales tactics.


Jack M. Fairchild jun 2 16, 04:45
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Best-buy savings accounts often beat investing in the stock market, study finds

Couple meeting with their financial advisor.

Based on a major study conducted since 1995 on the performance of savings and investments, keeping your cash in a best-buy savings account can often provide better returns than investing in stocks.

So, which is really better?

The research which was done by financial journalist Paul Lewis (not related to Martin Lewis, founder of MoneySavingExpert.com), showed that most investment periods in the last 21 years, stashing money in best-buy cash savings accounts would have given a saver more than a FTSE 100 shares tracker (following the index of shares in the biggest 100 firms on the London Stock Exchange directory).

Traditionally, investments in shares has remained the best way to build your wealth; however, that does not seem to be the case now according to the research, which likewise emphasizes the stark reality of losing money through investing.

What did the research really confirm?

The study compared gains from a simple HSBC tracker fund (which 'tracks' the FTSE 100 index of shares) with cash put yearly into a best-buy one-year deposit account with a bank or building society – also referred to as a 'one-year bond'. It assumed that dividends were invested back while the cash was also invested back yearly together with earned interest. The study showed the following:

  • Savings accounts overtook the overall gains on the tracker in 57% of the 192 five-year investment periods commencing monthly since 1 January 1995. On the other hand, the tracker scored only 43% of the same durations.
  • Over longer time durations, the difference was even more pronounced. For instance, in more than 84 14-year periods from 1995, cash-savings handily overran investments in shares with an impressive 96% score.
  • When considering a various periods of investment since 1995, such as from one to 11 years, the study found investments in funds that follow the FTSE 100 would have ended up losing money up to 33% of the time. However, keeping your money in a savings account assured you a gain over the original amount, a virtually risk-free proposition.
  • Nevertheless, savings accounts did not win in each situation. The research showed that throughout the full 21-year period from 1995 to 2016, best-buy savings accounts would have delivered an average 5 % “annual compound return” (rate-of-return on your investment) against the 6% HSBC tracker fund would have produced.

But while shares led over the entire period, this finding is still remarkable. Although investors are ordinarily told an average 'risk premium' (which is the extra gain you expect to get by 'risking' an investment in a tracker instead of keeping a bank savings account) of 3% to 8%; however, this study seems to point to a slight gain near 1%.

In short, best-buy savings accounts are more advantageous than investing in the stock market since savings account will never be lost while investments in shares may disappear.

So, how was the research undertaken?

Paul Lewis, who presents Radio 4's Money Box program, acquired data from best-buy cash records since 1995 from Moneyfacts, a financial information publisher.

He states, "This new study of the data proves that people who choose to keep their cash safe in savings accounts have a higher rate of winning over those who prefer tracker funds in most of time periods.

"Likewise, it verifies that the risk of incurring losses on stock investments is quite real. Over any investment period of one up to five years from 1995 to 2015, about one out of four chances or more resulted in the investment’s failure. For longer periods of nine or ten years, the chance of failing was about one out of ten. Only a few financial consultants are aware of such odds and even fewer tell their clients about them.

"For so long, I have long assumed that the value of cash was played down by conventional study which tend to put out poor cash rates in comparison with overstated gains in stocks investments."

So, should we then do away with investing in shares?

It really depends on one’s risk capacity. Whereas this study sheds new light on the issue, whether you invest or save, it is an individual’s choice wholly dependent on one’s outlook on risk; hence, if you are comfortable with taking risks, you may find your fulfillment in shares.

Lewis's study discovered periods when shares gave a higher gain than cash, such as from 1 November 2008 to 1 September 2009; and during the entire 21-year-period, shares enjoyed a slight advantage.

In general, however, for investment periods of five years or more, cash savings gave a better return over shares: 38 against 24, respectively.

Moreover, Lewis says: "In every situation, cash may not be right for everyone. However, for a cautious investor over long periods of time of up to two decades, this study points to the advantage of well-managed active cash over a FTSE 100 tracker in most cases. The clincher for people who look for a sure winner is that a cash account will produce more money than what they put in."


Jack M. Fairchild aug 2 16, 12:09
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Seven of Warren Buffett’s Best Investing Advices

Seven of Warren Buffett’s Best Investing Advices

Everyone listens to Warren Buffett’s investing advice. Who will not want to listen to the world’s greatest investor and learn how he earned $72 billion net worth and enhanced his company, Berkshire Hathaway, into a formidable force valued at more than $212 billion.  

One fact that sets Buffett apart from others is his refusal to advice the ordinary investor to follow his example. On the contrary, he tells investors to do the opposite. Nevertheless, Yahoo Finance shares the following Buffett’s well-known insights on investing for a long-term, durable growth:

1. Cash is the worst investment over time

Having cash around, whether in the bank or at home, can be a reassuring thing. But over time, cash is an unstable investment. That is a fact; and yet people do keep enough cash with them so that they can have a certain degree of financial freedom.

2. Invest in diversified index funds that track the S&P 500

If you already have enough experience as an investor, then you need to focus deeply. For the rest of the people, aim for complete diversification. In the long run, the economy turns out well. As such, do not buy at the wrong price or at the wrong time. In general then, buy index fund at a low rice, and gradually level into a dollar-cost average. Spending merely an hour each week investing will lead you nowhere.

Read the book: “Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor” by Jack Bogle, Vanguard founder. Or if you can, read all Bogle’s books to know all you need to know about funds.

3. Invest in yourself

Warren Buffett advices people to invest in their own abilities. “Anything you can do to develop your own abilities or business is likely to be more productive.” Even in life, such advice should not be ignored.

4. If you intend to invest in stocks, avoid any business you do not understand

Investors must consider only investments they can understand. Assuming you put all your family’s net worth into a business, would they consider going into that business? Or would they refrain from doing so because they know nothing about it? If that case, they should choose another business. Like Buffet and his long-time partner, Charlie Munger, who avoid businesses they do not understand, individual investors should do the same.

5. Focus also on the competition

Investing in a company’s stocks means investing in a part of their business. If you were, for example, to invest in a local gas station or convenience shop, how would they run it? Obviously, they would look at the competition, the competitive posture of both the sector and the immediate environment, the people running the competition and other matters.

6. Invest for the long-term

Buffett has this to say: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for ten minutes.” Investing is like planting a tree for yourself: You begin with a seedling and hope to eat from its fruits later on.

7. The most difficult part of investing is learning to trust yourself

Stay away from mob-thinking. That is one sure way of becoming dumb. Buffett thinks investors are not really using their intelligence. One can be smart but also be illogical. To succeed in investing, divorce yourself from the greed and fears of the people you deal with even if you think that is very hard to do.

 


Jack M. Fairchild jul 19 16, 04:02
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International Financial Securities Regulatory Commission on Investor Help

Investor Resource

A merger occurs when one firm assumes all the assets and all the liabilities of another. The acquiring firm retains its identity, while the acquired firm ceases to exist. A majority vote of shareholders is generally required to approve a merger. A merger is just one type of acquisition. One company can acquire another in several other ways, including purchasing some or all of the company's assets or buying up its outstanding shares of stock.

In general, mergers and other types of acquisitions are performed in the hopes of realizing an economic gain. For such a transaction to be justified, the two firms involved must be worth more together than they were apart. Some of the potential advantages of mergers and acquisitions include achieving economies of scale, combining complementary resources, garnering tax advantages, and eliminating inefficiencies. Other reasons for considering growth through acquisitions include obtaining proprietary rights to products or services, increasing market power by purchasing competitors, shoring up weaknesses in key business areas, new geographic regions, or providing managers with new opportunities for career growth and advancement. Since mergers and acquisitions are so complex, however, it can be very difficult to evaluate the transaction, define the associated costs and benefits, and handle the resulting tax and legal issues.

"In today's global business environment, companies may have to grow to survive, and one of the best ways to grow is by merging with another company or acquiring other companies," which in some cases are multibillion-dollar corporations.

When a small business owner chooses to merge with or sell out to another company, it is sometimes called "harvesting" the small business. In this situation, the transaction is intended to release the value locked up in the small business for the benefit of its owners and investors. The impetus for a small business owner to pursue a sale or merger may involve estate planning, a need to diversify his or her investments, an inability to finance growth independently, or a simple need for change. In addition, some small businesses find that the best way to grow and compete against larger firms is to merge with or acquire other small businesses.

In principle, the decision to merge with or acquire another firm is a capital budgeting decision much like any other. But mergers differ from ordinary investment decisions in at least five ways. First, the value of a merger may depend on such things as strategic fits that are difficult to measure. Second, the accounting, tax, and legal aspects of a merger can be complex. Third, mergers often involve issues of corporate control and are a means of replacing existing management. Fourth, mergers obviously affect the value of the firm, but they also affect the relative value of the stocks and bonds. Finally, mergers are often "unfriendly."

The International Financial Securities Regulatory Commission is established to promote investor confidence in the securities and capital markets by providing more structure and government oversight. The mission of the International Financial Securities Regulatory Commission is to protect investors and maintain integrity of the securities industry, overseeing major participants in the industry, including stock exchanges, broker-dealers, investment advisors, mutual funds, and public utility holding companies. The International Financial Securities Regulatory Commission is concerned primarily with promoting disclosure of important information, enforcing securities laws, and protecting investors who interact with these various organizations and individuals.


Jack M. Fairchild jun 2 16, 04:46
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International Financial Securities Regulatory Commission: International Profile

As a reputable international financial center with full access to global markets, it is essential that the 

 retains the confidence of its counterparties through the adoption and implementation of high regulatory standards. The International Financial Securities Regulatory Commission therefore attaches great importance to making sure that its policies and procedures conform to internationally accepted best practice.

The International Financial Securities Regulatory Commission is a member of the Offshore Group of Banking Supervisors and of IOSCO. The IOSCO are the main bodies responsible for the setting of international standards in the banking and securities sectors respectively.

A number of official international organizations have devoted much time to the assessment of offshore centers generally. This has been mainly to assess their practices against global standards to ensure that they do not present a weak link in the financial system generally. The International Financial Securities Regulatory Commission welcomes this scrutiny, and indeed has benefited from the subsequent findings.

In 2002 the International Financial Securities Regulatory Commission conducted an assessment of the institute's regulatory arrangements under its OFC program. The Report confirms that the International Financial Securities Regulatory Commission "complies well" with international standards for the regulation and supervision of financial services. It concludes that the International Financial Securities Regulatory Commission has a "high level of compliance" with international standards in such areas as banking, insurance, securities, anti-money laundering and combating the financing of terrorism.

It commends "the proactive approach of the regulators to achieve high standards in the financial services sector".

Following the independent report prepared in 1998, which commented favorably on regulatory practices in the International Financial Securities Regulatory Commission, the Financial Action Task Force has completed its own review of International Financial Securities Regulatory Commission defenses against money-laundering. Its positive report concluded that the International Financial Securities Regulatory Commission has measures in place which are close to full adherence with FATF recommendations. The International Financial Securities Regulatory Commission has in place Memoranda of Understanding with a number of jurisdictions to underpin this, and wider issues of, co-operation.

Meanwhile the Financial Stability Forum has also considered the effect which offshore centers generally can have on global financial stability and in April 2000 issued its Report of the Working Group on Offshore Centers. It canvassed opinion among major countries on the strength of regulatory practice in the different centers, and it was very pleasing to note that the International Financial Securities Regulatory Commission was placed in the top group of centers reviewed. This type of independent confirmation of how the International Financial Securities Regulatory Commission regulatory system is perceived to be working in practice is an important test of effectiveness and compliance.

More recently a far reaching, five year fiscal strategy for the International Financial Securities Regulatory Commission was announced in the Summer of 2012 and played a major part in addressing many of the concerns raised by the OECD and in achieving such a positive outcome.

The International Financial Securities Regulatory Commission has received confirmation that it has been moved to a list approved by the US Internal Revenue Service under its new Withholding Tax legislation. Broadly, the legislation requires local financial institutions to apply for Qualified Intermediary Status if they wish to invest in US securities and claim exemption from US Withholding Tax for their clients


Jack M. Fairchild jun 7 16, 04:26
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