Briefly: “Korean conflict no ‘sell’ signal” and more news

This week’s flare up on the Korean peninsula is indeed troubling for the people living there, but the shelling of the South Korean island of Yeonpyeong should not be taken “sell” signal for Asian equities, according to Kelvin Tay, strategist with UBS AG. “Should investors consider reducing their holdings in Asian assets? Simply put, we […]

By Staff | November 24, 2010 | Last updated on November 24, 2010
2 min read
  • the respondent was permanently prohibited from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA member;
  • the respondent shall pay a fine of $10,000 as follows:

    (i) $2,000 upon acceptance of the settlement agreement; and

    (ii) $2,000 payable on the 18th of each and every month thereafter, commencing on December 18, 2010, until paid in full; and

  • the respondent shall pay $2,500 for the costs of the investigation and settlement of this matter.

The hearing panel advised that it will issue written reasons for its decision in due course. A copy of the settlement agreement is available on the MFDA website at www.mfda.ca.

– Staff

(11/24/10)

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.

This week’s flare up on the Korean peninsula is indeed troubling for the people living there, but the shelling of the South Korean island of Yeonpyeong should not be taken “sell” signal for Asian equities, according to Kelvin Tay, strategist with UBS AG.

“Should investors consider reducing their holdings in Asian assets? Simply put, we believe the answer is no,” Tay wrote in a research note on Wednesday. “A full-scale war is very unlikely as that would drag the U.S., China and Japan into all-out confrontation.”

While South Korea’s KOSPI index traded lower after the exchange of artillery fire, any retreat in Asian equities, bonds and currencies probably represents a buying opportunity for investors.

“There have been numerous North Korean incidents over the past several decades. However, declines in Korean equities following these incidents have always been short-lived, as outlined in the table below. Therefore, we do not think the current correction in the KOSPI will be a protracted one.”

– Steven Lamb

• • •

MFDA issues reasons in Majdoub case

A hearing panel of the MFDA’s Central Regional Council has issued its reasons for decision in connection with the disciplinary hearing that took place in Toronto, Ontario on October 27, 2010 in the matter of Meiz Mohammed Majdoub.

A copy of the reasons for decision is available on the MFDA website at www.mfda.ca.

– Staff

• • •

MFDA approves Gabrielson settlement

A settlement hearing in the matter of Bradley Monroe Gabrielson (the “respondent”) took place on November 18, 2010 in Calgary, Alberta before a hearing panel of the MFDA’s Prairie Regional Council.

The hearing panel approved a settlement agreement between MFDA staff and the respondent, as a consequence of which:

  • the respondent was permanently prohibited from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA member;
  • the respondent shall pay a fine of $10,000 as follows:

    (i) $2,000 upon acceptance of the settlement agreement; and

    (ii) $2,000 payable on the 18th of each and every month thereafter, commencing on December 18, 2010, until paid in full; and

  • the respondent shall pay $2,500 for the costs of the investigation and settlement of this matter.

The hearing panel advised that it will issue written reasons for its decision in due course. A copy of the settlement agreement is available on the MFDA website at www.mfda.ca.

– Staff

(11/24/10)

This week’s flare up on the Korean peninsula is indeed troubling for the people living there, but the shelling of the South Korean island of Yeonpyeong should not be taken “sell” signal for Asian equities, according to Kelvin Tay, strategist with UBS AG.

“Should investors consider reducing their holdings in Asian assets? Simply put, we believe the answer is no,” Tay wrote in a research note on Wednesday. “A full-scale war is very unlikely as that would drag the U.S., China and Japan into all-out confrontation.”

While South Korea’s KOSPI index traded lower after the exchange of artillery fire, any retreat in Asian equities, bonds and currencies probably represents a buying opportunity for investors.

“There have been numerous North Korean incidents over the past several decades. However, declines in Korean equities following these incidents have always been short-lived, as outlined in the table below. Therefore, we do not think the current correction in the KOSPI will be a protracted one.”

– Steven Lamb

• • •

MFDA issues reasons in Majdoub case

A hearing panel of the MFDA’s Central Regional Council has issued its reasons for decision in connection with the disciplinary hearing that took place in Toronto, Ontario on October 27, 2010 in the matter of Meiz Mohammed Majdoub.

A copy of the reasons for decision is available on the MFDA website at www.mfda.ca.

– Staff

• • •

MFDA approves Gabrielson settlement

A settlement hearing in the matter of Bradley Monroe Gabrielson (the “respondent”) took place on November 18, 2010 in Calgary, Alberta before a hearing panel of the MFDA’s Prairie Regional Council.

The hearing panel approved a settlement agreement between MFDA staff and the respondent, as a consequence of which:

  • the respondent was permanently prohibited from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA member;
  • the respondent shall pay a fine of $10,000 as follows:

    (i) $2,000 upon acceptance of the settlement agreement; and

    (ii) $2,000 payable on the 18th of each and every month thereafter, commencing on December 18, 2010, until paid in full; and

  • the respondent shall pay $2,500 for the costs of the investigation and settlement of this matter.

The hearing panel advised that it will issue written reasons for its decision in due course. A copy of the settlement agreement is available on the MFDA website at www.mfda.ca.

– Staff

(11/24/10)