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In May 2012, the SEC charged former Detroit Mayor Kwame M. Kilpatrick, former City Treasurer Jeffrey W. Beasley, and MayfieldGentry Realty Advisors LLC, the investment adviser to Detroit's public pension funds, for a pay-to-play scheme involving the secret exchange of lavish gifts in exchange for influence over the funds' investment process. [87]
Pay-to-play, sometimes pay-for-play or P2P, is a phrase used for a variety of situations in which money is exchanged for services or the privilege to engage in certain activities. The common denominator of all forms of pay-to-play is that one must pay to "get in the game", with the sports analogy frequently arising.
The Philippine Dealing & Exchange Corp. (PDEx) is a dealing exchange for major banks in the Philippines. The primary exchange of the country for all sectors is the Philippine Stock Exchange . PDEx is licensed by the Securities and Exchange Commission (SEC) as an Exchange under the provisions of the Securities Regulation Code (SRC).
On February 12, 1998, its area of operation was expanded and its name accordingly changed to Trade and Investment Development Corporation of the Philippines by Republic Act No. 8494. It was re-titled again through an Executive Order 85 on March 18, 2002, to Philippine Export-Import Credit Agency (PhilEXIM).
In April 2014, RCS Capital Corporation purchased Cetera [13] among its acquisitions of other independent broker dealers and registered investment advisers, including First Allied Securities in September 2013; [14] Investors Capital Holdings Ltd., and Summit Brokerage Services, and JP Turner & Company in June 2014; Girard Securities in March ...
The Securities and Exchange Commission approved the company's change in corporate name to Macay Holdings, Inc. on January 30, 2014. [3] In 2014, Macay also acquired ARC Holdings, Inc. (AHI), holder of the trademark licenses of RC Cola in the Philippines. [4] The group also obtained the master franchise of RC Cola for the ASEAN region. [5] [6] [7]
The Philippine Deposit Insurance Corporation (Filipino: Korporasyon ng Pilipinas sa Seguro ng Deposito, [1] abbreviated as PDIC) is a Philippine government-run deposit insurance fund. It was established on June 22, 1963, by Republic Act 3591. It guarantees deposits up to ₱500,000. [2]
LPL Financial Holdings Inc. (commonly referred to as LPL Financial) was founded in 1989 and is considered the largest independent broker-dealer in the United States. As of 2021 the company had more than 17,500 financial advisors, [4] over US$1 trillion in advisory and brokerage assets, [5] and generated approximately $10.3 billion in annual revenue for the 2023 fiscal year. [6]