One of the main issues impacting compliance officers today is the difficulty of monitoring the personal trading activities of employees in accordance with best practice and industry regulations. Adherence to rules such as SEC Rule 17j-1 and Rule 204A-1 and adoption of the best practices recommended by the SEC can be very time consuming and distracting for any compliance department.
The main requirements of an Investment Adviser under rule 204A-1 and Rule 17j-1 are:
Adoption of Code of Ethics.
Process to monitor employee personal trading
Reporting by all access persons of all holdings within ten days of becoming an access person and at least once within each twelve month period thereafter.
Submission of transaction reports by access persons no later than 30 days after the end of each calendar quarter. The report must cover, at a minimum, all personal trading transactions during the quarter.
Trade Pre-Clearance approval of certain investments. Access persons must obtain approval before they directly or indirectly acquire beneficial ownership in any security in an initial public offering or in a limited offering.

The SEC when amending rule 17j-1 in 2004 also recommended that Investment Advisers adopt the following in their code of ethics.
Prior written approval before access persons can place a personal securities transaction (“pre-clearance”).
Maintenance of Restricted lists e.g. Lists of issuers of securities that the Registered Investment Adviser firm is analyzing or recommending for client transactions, and prohibitions on personal trading in securities of those issuers.
Maintenance of “restricted lists” of issuers about which the Registered Investment Adviser has insider information, and prohibitions on any trading (personal or for clients) in securities of those issuers.
Blackout periods when client securities trades are being placed or recommendations are being made and when access persons are not permitted to place personal securities transactions.
Reminders that investment opportunities must be offered first to clients before the Registered Investment adviser or its employees may act on them, and procedures to implement this principle.
Prohibitions or restrictions on short-swing trading and market timing.
Requirements for employees placing personal trades to trade only through certain brokers, or limitations on the number of brokerage accounts permitted.
Requirements to provide the adviser with duplicate trade confirmations and account statements.
Procedures for assigning new securities analyses to employees whose personal holdings do not present apparent conflicts of interest.

There are many Personal Trading or Compliance Management systems which allow firms to automate this employee personal trading process. These systems vary from systems which capture employee brokerage statements to systems which allow you to provide end to end employee personal trading surveillance.

What exactly are Treasury Bills?

Treasury bills are promissory notes issued by the central government for a fixed period extending upto one year as a tool for raising short term funds from the equity trading market. They are usually issued for a discount for a maturity period of 91/182/364 days. TBs are an ideal form of short term investment for banks and financial institutions as they are eligible as securities for SLR (Statutory Liquidity Ratio) purpose. They can be purchased by any person resident in India including individuals, firms, companies, corporate bodies, banks and financial institutions.

These Bills usually do not carry any interest rate and are issued by the government at discounted value. This means that a ‘500 bill may be issued at a discount to investors for a price of ‘410. After the maturity date is over, the government will pay ‘500 to the holder of the bill. The difference between the par value at which the bills are redeemed and the face value at which the T-Bill was procured is the net gain to the investor.

Role in the Money Market:

1) A fiscal role as an instrument for raising funds for governments short term needs.

2) A monetary role as an instrument with RBI to influence liquidity in the equity trading market.

These T-Bills are issued by RBI at regular intervals and issued at a discount to face value. They very effectively serve as effective short-term borrowing instruments for the Government. Even investors benefit from the same as they can park their surplus funds in these instruments and considerably reduce their market risk.

FEATURES:

1) One can purchase these shares for a minimum face value of ‘1 lac and there is no fixed ceiling on the maximum amount of treasury bills that can be purchased from the money market. The rate of interest is determined by market, based on demand for and supply of funds in the money market. Moreover these treasury bills are highly liquid instruments giving offering attractive yields to investors

2) Treasury Bills as an asset class have been approved for SLR (Statutory Liquidity Ratio) purposes and DFHI (Discount and Finance House of India) is the stock market leader in such instruments. The bills are the only security in which the repurchase option (Repo) or ready forward transaction are permitted. This is the most important instrument for hedging against volatility in call loan market.

So after analyzing these points, you can yourself see that TBs are all time favorite for those who want to play big in stock market. Since the minimum investment amount is ‘ 1 Lac therefore, it becomes a niche investment option too. But even big players sometimes loose in stock market, therefore its the perfect investment option for them too.

into the soybean business in Heilongjiang forced to stop production; Lu flowers, Jin Long Yue, etc. Cooking oil Price suddenly rose suddenly fell … … China’s soybean industry upstream and downstream of various strange phenomenon now appears, indicating the foreign forces in the middle range has grown and become strong enough to control the industrial chain, the fate of the other links.

To change the high external dependence, Shanghai Securities News Recently, this reporter learned from China’s Soybean Association, the association of materials and solutions have been submitted to the competent national authorities. According to industry sources, this year’s first document and the three rural policy have shown, followed by soybean industry may be introduced to promote the development of relevant policies.es.

“ABCD” penetrate the Chinese soybean industry

As a major soybean producing areas of China, Heilongjiang Province, accounting for nearly half of the soybean crop, with more than 30 local soybean processing enterprises, but now 60% of the enterprises stop production. “Now we backlog of soybean meal (2839,36.00,1.28%), nearly 10,000 tons, Bean oil (7538,42.00,0.56%) also had more than 3000 tons, are not selling ah, sold lose out. “Heilongjiang luck and Chief Engineer Liu Hongfei Soybean Oil Co., told reporters.

“Now purchase a ton of soybeans, 100 to 150 dollars deficit would only discontinued.” Liu Hongfei that may be more discontinued after the Spring Festival, is estimated to 45 months to see the market is not can be recovery.

It is understood that China’s soybean industry in recent years has faced the impact of imports of cheap soybeans. Last year Financial Times of crisis, nearly 70% of soybean in Heilongjiang Province, processing enterprises stop production. “Now the whole industry chain of China’s soybean industry have a problem.” Soybean Association, the official told reporters.

According to the person in charge of China’s soybean industrial chain issues with the “ABCD” relevant. It is reported that the soybean crisis in 2004 led to heavy losses of domestic crushers, a large number of business failures, control of food production at a time when distribution of four low-cost foreign companies took the opportunity to purchase shares of Chinese soybean crushing business. ADM, Bunge (Bunge), Cargill (Cargill) and Louis Dreyfus (LouisDreyfus) that the four were with the letter “A, B, C, D” at the beginning of the grain in acquiring more than 70% of our downtime enterprise, from China’s soybean industrial chain link was interrupted foreign investment and began to subject to “ABCD”.

Soybean Industry Last Stand “China’s soybean industry can be said that the key barrier to development, the government and enterprises should work together to become bigger and stronger group of domestic enterprises, establish a complete industrial chain of independent, in order to promote the sound development of industry, to resist external shocks. “Soybean Association, the person in charge of the reporter that in recent years, large-scale shutdown of Soybean business is serious, I hope this report will help the program out of the woods soybean enterprises.

China Soybean Industry Association vice president of full-time climbing Liu told reporters that the main contents of this report is to promote China’s soybean enterprises bigger and stronger, reduce dependence on foreign and establishing an independent pricing system and to form their own brands. As the current foreign penetration is too deep to promote the development of China’s soybean industry policy measures will be issued in the form of internal documents.

“The key now is to address national policy and business must work together to both.” Liu climb that, although the Government had already introduced the relevant subsidies and on behalf of the Reserve collection system, but the actual effect, simple subsidies is limited.

Climbing Liu said the whole industrial system policy development should be considered. “Including trade, investment, industrial policies have to be taken into account, and put a high degree of national food security.” He suggested that the soybean industry development should be included in the “12 5” plan, “After all, the soybean industry is involved behind the 4000 the employment of more than 10,000 soybean farmers and food security.

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As the old saying goes, dont put all your eggs in one basket. The same is true with your money. Dont put all your investment money in one stock, or even the same sector of stocks. Investment diversification is an easy concept to understand. Whats not easy is deciding where to spread your money. And for various reasons most people dont consider commodity mutual funds.

Most people tend to put all their investment or retirement money in the stock market. They either invest in the company they work for, or buy stocks of companies that they like, such as Ford, GM, Wal-Mart, or any company that is popular. Or they are using a brokerage house for advice and pick and choose from the brokers suggestions. If they have a large sum of money in investments, they probably have a financial counselor. This adviser should have some of their money in the bond market, which is a good, sound investment diversification strategy.

The stock market is easy to understand and most people are comfortable with checking their stocks performance online. The bond market is a little tougher to follow day to day, and most people just buy the bond and wait for their broker or adviser to recommend a change.

The commodity and commodity mutual fund market is a little tougher to follow and to understand. The prices of gold and oil are easy to follow because they are a couple of the most popular commodities. The prices of corn, cotton or pig bellies are not so popular. Unless you are a producer or buyer of these commodities you probably dont have a clue what their price is.

But commodity mutual funds are a great tool to add investment diversification to any portfolio. They offer investment protection from inflation, a weak dollar and swings in the stock market.

Over the last few years, there has been a large increase of investing in commodity mutual funds do to the bad performance of the stock market. With the large amount of choices in the stock and mutual fund market, stock brokers usually do not research or recommend commodity mutual funds. They probably have hard enough time pushing their stock pick of the day, let alone trying to sell commodity products.

For that reason, you need to do your own research into commodities and commodity mutual funds. They can add value to your retirement fund.

Timeshare Debate

When the topic of timeshares comes up during a conversation, it can often lead in to an incredibly awkward debate. These debates of course naturally evolve when you mix timeshare lovers with timeshare haters together in the same room. Like any debate, there are always two sides to the story. If you have purchased a timeshare recently, it is often difficult to hear anybody say anything negative about timeshares because you have just invested your life savings into that ownership, and for those who think that timeshares are the most absurd concept, you probably cant help but laugh at those crazy enough to buy one. By looking at this debate objectively, listening to both sides of the story, prospective buyers, timeshare owners, and anyone who has an opinion about everything can decide for themselves.

Good or Bad Investment?

This seems to be one of the hottest debates when it comes to timeshares. Weve all been to a timeshare presentation (or at least heard of one from someone we know,) and the salespeople always claim that timeshares are a great investment. Often times they even encourage potential buyers to purchase multiple weeks/units, using one of them as a rental property to collect enough to cover both maintenance fees. The other form of investment that is presented is the personal side. It is presented that even if you decide not to sell it; you are still making a personal investment into yours and your families lives.

The word investment in the simplest terms means to use your money in the hopes of making more money. So the best way to analyze this debate is to see how timeshare owners are doing in the resale market. Unfortunately the truth to this debate is not too difficult to uncover, a quick peek at eBay will show that timeshare are practically impossible to resell for any amounts of money. Timeshares on eBay are not moving at the list prices of $1 to $200. Not to mention the fact, that most of the timeshare listed on eBay were once sold at the retail value of $15,000 or more. The discrepancy of $15,000 to $1 is enough to know that timeshares do not have a financial investment appeal. However, a personal investment is something that each individual has to determine. Will it be beneficial for you and your family to go on vacation every single year? Would you and your family actually make sure to go each and every year? How much are you spending to go on vacation now, and is it more than what the maintenance fees would be? The conclusion that is easy to come to is that if a personal investment like a timeshare requires $15,000 on average to obtain, then you are most likely going to want it to be a sound financial investment as well.

Maintenance Fees

Those who love their timeshares will often be amazed at how little their vacations are costing them each year. Sometimes it can be as low as $250 for one week, and other times it can be $1,500, and whenever someone explains to them, Yea, but you had to pay thousands of dollars up front to get that deal, so are you really actually saving money? And heres where it all comes together. A timeshare lover will respond to a question like that with a, Sure, but my timeshare is real estate, so when I dont want it anymore, Ill be able to resell it and get that money back, and my vacations all these years have been incredibly cheap! We know now however, that timeshares dont have any resale value!

Maintenance fees also have a tendency to not stay fixed. More often than not, the fees increase every single year and there are also the risks of special assessments.