Financial instrument Documentary

Financial instrument Documentary evidence of the ownership of a financial asset; for example, a bill of exchange, certificate of deposit, government bond, stock and so on. Financial intermediary An individual or institution that mediates between savers (that is, sources of funds) and borrowers (that is, users of funds). The chain from original source to ultimate use can be a long one, with many intermediaries along the way. Financial Services Authority The UK’s omnipotent regulator of financial services. The Financial Services Authority (fsa) was set up under the Financial Services and Markets Act 2000. Unlike most regulators, the fsa covers both retail and wholesale business; that is, services for professionals as well as consumers. So it is just as likely to pronounce on the regulation of, say, securities derivatives as credit unions run for and by individuals. A company limited by guarantee with a board of directors appointed by the government, the https://www.easycorp.com.hk/zh/incorporation easycorp https://www.easycorp.com.hk/en/notary fsa pays for itself through a levy on the industry that it regulates. Because of its size and scope, it is rarely out of the limelight. Financial services institution Any firm in the financial services industry, such as a commercial bank, investment bank, an investment company, or a fund manager. Often abbreviated to fsi. Financial Times A daily newspaper printed on pink paper. It is the bible of the European financial community in much the same way that the WALL STREET JOURNAL is for the United States. The Financial Times is printed in 18 cities around the world and has several different editions, for example, in the UK, the United States and Europe. Financial year The 12-month period covered by a company’s accounts. On occasions, a financial year can be a period of more or less than 12 months. For example, when a company wants to change the ending of its financial year from (say) inconvenient May to more convenient December, it will have to have a financial year of either seven months or 19 months (7 12). Fixed-income security A security that pays a fixed rate of interest. This includes government, municipal and corporate bonds which pay a fixed rate of interest until they mature. It may also refer to preferred or preference shares which pay a fixed divi. Such instruments protect the holder during periods of low inflation but do nothing to guard against the erosion of buying power during times of rising inflation. The prices of fixed-income securities rise and fall according to demand, like any other, as well as being determined by the value of the remaining interest payable until maturity.