Retail investors still face a bureaucratic battle and high fees if they want to invest in foreign shares, which are typically listed on a foreign stock exchange and cleared and settled under local rules.
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Once the bond offering is successfully sold to QIB's through the holding and clearing companies in New York and Europe, the bond will be officially listed on a foreign stock exchange (in this case, the Hang Seng).
Throughout the trial, Hoffman claimed that the court did not have jurisdiction to even hear this case because it involved securities traded, or intended to be traded, on the London Stock Exchange (foreign exchange).
In other words, because Sky Capital shares were traded on a foreign exchange (the London Exchange Stock AIM), the U.S. courts had no jurisdiction to bring fraud charges.
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Thursday's trading appeared to continue a pattern of unusual moves over the past week between the stock and foreign-exchange markets, where a fall in Japanese share prices seemed to be driving down the value of the dollar against the yen.
Shanghai plans to be an international finance center by 2020, and creating a board on the Shanghai Stock Exchange where foreign companies can list their shares is seen as an essential component.
Not everyone is slacking: America reacted to its own corporate-governance scandals by implementing tighter regulation, in the form of the Sarbanes-Oxley act and, perhaps as a consequence, has seen a slowdown in foreign listings on the New York Stock Exchange.
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Some of the investments are made alongside Dagvadorj, and Firebird is the largest foreign owner of shares on the Mongolian Stock Exchange.
He enacted some free market reforms, opened a stock exchange and attempted to draw foreign investment to the country.
If they are foreign, they must have filed with their home stock exchange.
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Given the ambit that the FCPA covers, both U.S. and foreign companies listed on a U.S. stock exchange, and the number of individual transactions engaged in by businesses, one might expect the number to be much higher.
The markets that do the sort of high volume, low margin trades that would be affected by an FTT are the foreign exchange (FX), futures, options and stock markets (with special reference to high frequency trading of the often demonised computer algorithm type).
Research by Andrew Karolyi, of Ohio State University (who advises the New York Stock Exchange), and others finds that when foreign companies list in America, more analysts start covering them, and the extra transparency and higher governance standards demanded by American law helps their share prices.
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The London Stock Exchange is headlining the law among reasons that foreign firms should list stock in the U.K. instead of the U.S. German carmaker Porsche AG and reinsurer Benfield Group are among those scared away by Sarbanes-Oxley from U.S. listings lately, meaning less business for local exchanges and fewer choices for investors.
Now take a look at the chart, which plots a foreign exchange rate along with a price index for the global stock market.
Foreign investors, who hold as much as 70% of the Istanbul Stock Exchange, have been pulling out, and the lira has tumbled by more than a third against the dollar this year.
Illicit payments continued for years after Germany outlawed the bribery of foreign officials in 1999 and after Siemens listed its shares on the New York Stock Exchange in 2001, which made it subject to America's tough anti-bribery laws.
Speaking at the Paydirt Africa Down Under conference in Perth, the Department of Foreign Affairs and Trade secretary Dennis Richardson said the number of Australian mining firms listed on the stock exchange and operating in Africa had jumped from 54 in 2003 to more than 160 this year.
My model has been that the current equity markets are being driven by capital flows rather than stock fundamentals and that you can get a handle on those driving factors by watching the Foreign exchange markets.
Such signs of resistance to economic liberalisation, compounded recently by concerns over tight liquidity and a rigid exchange rate, have dampened both retail and stock markets, as well as the foreign investment that Egypt badly needs.
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