In October, a public auction which was set up made the choice of securities houses
for the loans, which were issued between 2005 and 2011.
Two new securities houses
joined the financial center (Julius Baer Investments and ES Bank Panama ).
Consumer finance firms, securities houses
and glass makers led the market's decline, while utilities, oil distributors and miscellaneous products makers posted gains.
But some banks and securities houses
have made a modest turnaround from the lows seen earlier in the current recession.
As well, securities houses
will be excluded from the current 5% limit on shareholdings by financial institutions in companies in other sectors, due to the erosion of their power in taking larger stakes, the official said.
As in other countries, Germany's banks, securities houses
, and insurance companies are competing for the same clients by offering a full range of financial products and marketing channels.
The proposed merger between two Singapore securities houses
to create Southeast Asia's largest brokerage has fallen apart after shareholders at one of them rejected the deal Monday.
The study found that the gap between Merrill Lynch and Warburgs and other securities houses
has widened significantly, which reflects the huge structural changes and consolidation that have taken place in the industry over the past year.
Tokyo investors will likely continue to unload shares if the earnings reports of surviving securities houses
such as Goldman Sachs turn out bad, according to Kazuhiro Takahashi, general manager of the global product planning department at Daiwa Securities SMBC Co.
The Financial Services Agency (FSA) will begin talks with Britain's Financial Services Authority on a bilateral accord to exchange information on the supervision of securities houses
and market transactions, FSA officials said Monday.
Tsubasa Securities was created April 1 through the merger of four Sanwa-affiliated securities houses
-- Universal Securities Co.