The number of US securities fraud class action cases fell by 19% in 2012, to 152 cases from 188 in 2011, and reached the second-lowest level in 16 years according to a report issued by Stanford Law School and consulting firm Cornerstone Research.
Although the number of filings launched against Chinese companies listed in the US via reverse mergers showed a decline, class action filings against other foreign companies listed in the US remained high. However, there were no new securities fraud class actions related to the credit crisis in 2012, against three the previous year.
Federal cases related to merger and acquisition (M&A) activity, which totaled 40 in 2010 and 43 in 2011, only numbered 13 last year. Class action securities filings directed at financial companies, which fell from 43 in 2010 to 25 in 2011, were down further at 15. However, the trend was offset by filings against healthcare, biotechnology and pharmaceutical companies, which edged up from 28 in 2011 to 33 last year.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
Far and away, the largest financial market on the planet is the foreign exchange currencies market, where on average individuals and organisations trade more than $5 trillion daily. In the FX world, the ability to master the market isn't considered a luxury for treasury officers–it's a necessity.
Using data for predictive analytics is the future of banking success, argued Jean-Laurent Bonnafé, CEO of BNP Paribas, in his session on how the bank is reinventing its approach to innovate with and for corporates.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.