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SEC is proposing to codify and revise notifications prescribing rules on the operating systems and service provision of securities companies and derivatives business operators to be more appropriate and flexible but will mostly be based on the same principle. The revision will cover various systems for example, operating systems relating to organizational structure and personnel readiness, customer service and information system, internal control system, and risk management system. In add...
. • Existing “information asymmetry” problem and agency costs. • Conflicts in the contracts between shareholders & bondholders • From managers’ views (acting on shareholders’ behalf), creditors benefit more
may not be available for timely problem solving. However, the SEC's power shall be limited to issuance of order of shareholders? meeting. This alternative approach has been considered in conjunction
consumption and immediate utility. • A realistic and practical model for setting a self-discipline saving rate needs be developed. 2 Existing Recommended Rates • The RATEs – Berger (2013) >> a 10-percent rule
Criteria for Offering for Sale of Newly Issued Securities with a Tender Offer for the Existing Securities of Listed Companies for Restructuring of Shareholding and Management
that such redemption may cause liquidity problem to the mutual fund and thus affects other unitholders. For, funds of funds and feeder funds investing in large overseas funds, however, the redemption may