BNZ freezes Access Brokerage&#39;s accounts
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Bank of New Zealand has frozen all accounts held in the name of Access Brokerage, which was yesterday placed in liquidation after a client fund shortfall of around $5 million was discovered.
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WELLINGTON (Dow Jones)--The New Zealand Exchange Ltd. (NZX.NZ) said Monday it has suspended Access Brokerage from trading in the stock market, and referred the matter to the Serious Fraud Office, the Securities Commission and the Minister of Commerce.
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Credit Suisse bank said on Tuesday it had suspended a "handful" of traders after an internal review showed up so-called mismarkings and pricing errors in its structured credit trading business.
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The New York Stock Exchange&#39;s top enforcement officer said a number of Wall Street brokerage firms have admitted they did not send customers prospectuses on new stock offerings before they invested their money.
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US equity fund Newbridge Capital Ltd., which is selling Korea First Bank, yesterday postponed its anouncement of a preferred bidder, indicating that it is having difficulty setting the sale price with HSBC Holdings Plc and Standard Chartered Plc.
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It was the second month in a row that the bank&#39;s Monetary Policy Committee has frozen the rate. The decision was widely expected following data that showed Britain&#39;s manufacturing sector slowing down and a cooling of the housing market.
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One of Britain's biggest property funds shuts its doors to withdrawals after panic selling
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HSBC customers face chaos as a glitch leaves thousands unable to use its credit, internet and cash machine services.
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The founder of Amaranth Advisors told investors tonight that withdrawals would be frozen while the fund sells off assets.
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The Bank of England (BoE) said Friday that it has frozen the assets of a suspect accused of plotting to kidnap and kill a British soldier, and those of four others accused of terrorism offences.
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Taking 'bank holiday' too literally Abbey's business banking systems have taken an extra long weekend and been completely unavailable since yesterday, leaving customers unable to fulfil critical payments ahead of the spring bank holiday.â¦
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BNP Paribas, the French bank, said it reopened two investment funds it had frozen amid problems in the subprime mortgage sector in the United States.
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The liquidator of Access Brokerage believes client money may have been propping up the business for some time. The small Internet broker collapsed on Friday, with a $5 million shortfall in its client trust accounts.
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Shares in Dutch bank slip as Royal Bank of Scotland unveils its bid -- legalities are still a sticking point.
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Fax machines running red hot at UK's National Grid A botched Oracle upgrade last Sunday has denied access to an online trading system used to sell space on the UK gas pipeline network. Fax machines have been running hot all week as every transaction has had to be entered manually.â¦
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Business & money: Norwich Union tipped as next to impose freeze on withdrawals by small savers
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Sales of investment funds stall as UK investors re-evaluate their portfolios, industry figures show.