| Industries |
|---|
| Investment Banking and Brokerage |
| Exposures |
|---|
| Economic |
| Military |
| Leadership |
| Express intent |
| Political reform |
| Judicial |
| Crime |
| Provide |
| Intelligence |
| Event Codes |
|---|
| Military blockade |
| Solicit support |
| Acknowledge responsibility |
| Reward |
| Yield |
| Warn |
| Yield to order |
| Agree |
| Release or return |
| Sports contest |
| Force |
| Ask for protection |
| Host meeting |
| Wiki | Wiki Summary |
|---|---|
| Investment | Investment is the dedication of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. |
| Investment (macroeconomics) | In macroeconomics, investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year" or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year.The types of investment include residential investment in housing that will provide a flow of housing services over an extended time, non-residential fixed investment in things such as new machinery or factories, human capital investment in workforce education, and inventory investment (the accumulation, intentional or unintentional, of goods inventories)\nIn measures of national income and output, "gross investment" (represented by the variable I ) is a component of gross domestic product (GDP), given in the formula GDP = C + I + G + NX, where C is consumption, G is government spending, and NX is net exports, given by the difference between the exports and imports, X − M. Thus investment is everything that remains of total expenditure after consumption, government spending, and net exports are subtracted (i.e. I = GDP − C − G − NX ). |
| Alternative investment | An alternative investment (also called an alternative asset) is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals, collectibles (art, wine, antiques, cars, coins, musical instruments, or stamps) and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits, venture capital, film production, financial derivatives, cryptocurrencies, non-fungible tokens, and tax receivable agreements. |
| Common stock | Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. |
| Matthiola incana | Matthiola incana is a species of flowering plant in the cabbage family Brassicaceae. Common names include Brompton stock, common stock, hoary stock, ten-week stock, and gilly-flower. |
| Consolidation (business) | In business, consolidation or amalgamation is the merger and acquisition of many smaller companies into a few much larger ones. In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group company as consolidated financial statements. |
| Class B share | In finance, a Class B share or Class C share is a designation for a share class of a common or preferred stock that typically has strengthened voting rights or other benefits compared to a Class A share that may have been created. The equity structure, or how many types of shares are offered, is determined by the corporate charter.B share can also refer to various terms relating to stock classes:\n\nB share (mainland China), a class of stock on the Shanghai and Shenzhen stock exchanges\nB share (NYSE), a class of stock on the New York Stock ExchangeMost of the time, Class B shares may have lower repayment priorities in the event a company declares bankruptcy. |
| Convertible bond | In finance, a convertible bond or convertible note or convertible debt (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company or cash of equal value. It is a hybrid security with debt- and equity-like features. |
| Stockbroker | A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks and other investments to financial market participants in return for a commission, markup, or fee, which could be based on a flat rate, percentage of assets, or hourly rate. The term also refers to financial companies, offering such services. |
| Oak Hill Capital Partners | Oak Hill Capital Partners is a private equity firm headquartered in New York City, with more than $19 billion of committed capital from entrepreneurs, endowments, foundations, corporations, pension funds and global financial institutions. Robert Bass is the lead investor. |
| Arithmetic | Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today. |
| Operation Mincemeat | Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin. |
| Operations management | Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements. |
| Special operations | Special operations (S.O.) are military activities conducted, according to NATO, by "specially designated, organized, selected, trained, and equipped forces using unconventional techniques and modes of employment". Special operations may include reconnaissance, unconventional warfare, and counter-terrorism actions, and are typically conducted by small groups of highly-trained personnel, emphasizing sufficiency, stealth, speed, and tactical coordination, commonly known as "special forces". |
| Professional wrestling | Professional wrestling, often shortened to pro wrestling, or simply wrestling, is a form of entertainment and performing art which combines athletics with theatrical performance. It takes the form of scripted "matches," which are presented as authentic combat sport. |
| Professional sports | In professional sports, as opposed to amateur sports, participants receive payment for their performance. Professionalism in sport has come to the fore through a combination of developments. |
| Professional association | A professional association (also called a professional body, professional organization, or professional society) usually seeks to further a particular profession, the interests of individuals and organisations engaged in that profession, and the public interest. In the United States, such an association is typically a nonprofit business league for tax purposes. |
| Professional development | Professional development is learning to earn or maintain professional credentials such as academic degrees to formal coursework, attending conferences, and informal learning opportunities situated in practice. It has been described as intensive and collaborative, ideally incorporating an evaluative stage. |
| Léon: The Professional | Léon: The Professional (French: Léon), titled Leon in the UK (and originally titled The Professional in the US), is a 1994 English-language French action-thriller film written and directed by Luc Besson. It stars Jean Reno and Gary Oldman, and features the film debut of Natalie Portman. |
| Professionalization | Professionalization is a social process by which any trade or occupation transforms itself into a true "profession of the highest integrity and competence." The definition of what constitutes a profession is often contested. Professionalization tends to result in establishing acceptable qualifications, one or more professional associations to recommend best practice and to oversee the conduct of members of the profession, and some degree of demarcation of the qualified from unqualified amateurs (that is, professional certification). |
| Craig Finn | Craig Finn (born August 22, 1971) is an American singer-songwriter and musician. He is best known as the frontman of the American indie rock band The Hold Steady, with whom he has recorded eight studio albums. |
| National Information Infrastructure Protection Act | The National Information Infrastructure Protection Act (Pub.L. 104–294 (text) (PDF), 110 Stat. 3488, enacted October 11, 1996; H.R. 3723) was Title II of the Economic Espionage Act of 1996, as an amendment to the Computer Fraud and Abuse Act. |
| Chief executive officer | A chief executive officer (CEO), chief administrator officer (CAO), central executive officer (CEO), or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization – especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably state-owned enterprises). |
| Court of Arbitration | The Court of Arbitration for Sport (CAS; French: Tribunal arbitral du sport, TAS) is an international body established in 1984 to settle disputes related to sport through arbitration. Its headquarters are in Lausanne, Switzerland and its courts are located in New York City, Sydney, and Lausanne. |
| International arbitration | International arbitration is arbitration between companies or individuals in different states, usually by including a provision for future disputes in a contract.Arbitration agreements and arbitral awards are enforced under the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (the "New York Convention"). The International Centre for the Settlement of Investment Disputes (ICSID) also handles arbitration, but it is limited to investor-state dispute settlement. |
| Arbitration Committee | On Wikimedia Foundation projects an Arbitration Committee (ArbCom) is a binding dispute resolution panel of editors. Each of Wikimedia's projects are editorially autonomous and independent, and have established their own ArbComs, which are established by the project's editors and are usually annually elected by their communities. |
| Permanent Court of Arbitration | The Permanent Court of Arbitration (PCA) is a non-UN intergovernmental organization located in The Hague, Netherlands. Unlike a judicial court in the traditional sense, the PCA provides services of arbitral tribunal to resolve disputes that arise out of international agreements between member states, international organizations or private parties. |
| Perkin Transactions | Perkin Transactions is a scientific journal devoted to organic chemistry published from 1997 to 2002 by the Royal Society of Chemistry. It was split into Perkin Transactions I and Perkin Transactions II. The predecessor journals published by the Chemical Society before the merger of that Society with other Societies to form the Royal Society of Chemistry were the Journal of the Chemical Society, Perkin Transactions 1 and Journal of the Chemical Society, Perkin Transactions 2 (1972-1996). |
| IEEE Transactions on Signal Processing | The IEEE Transactions on Signal Processing is a biweekly peer-reviewed scientific journal published by the Institute of Electrical and Electronics Engineers covering research on signal processing. It was established in 1953 as the IRE Transactions on Audio, renamed to IEEE Transactions on Audio and Electroacoustics in 1966 and to IEEE Transactions on Acoustics, Speech, and Signal Processing in 1974, before obtaining its current name in 1992. |
| Transactions per second | In a very generic sense, the term transactions per second (TPS) refers to the number of atomic actions performed by certain entity per second. In a more restricted view, the term is usually used by DBMS vendor and user community to refer to the number of database transactions performed per second. |
| Financial transaction | A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. |
| List of Gazprom subsidiaries | Russian energy company Gazprom has several hundred subsidiaries and affiliated companies owned and controlled directly or indirectly. The subsidiaries and affiliated companies are listed by country. |
| Alphabet Inc. | Alphabet Inc. is an American multinational technology conglomerate holding company headquartered in Mountain View, California. |
| Subsidiary right | A subsidiary right (also called a subright or sub-lease) is the right to produce or publish a product in different formats based on the original material. Subsidiary rights are common in the publishing and entertainment industries, in which subsidiary rights are granted by the author to an agent, publisher, newspaper, or film studio. |
| List of Toshiba subsidiaries | Subsidiaries of Toshiba. Together, these companies form the Toshiba Group. |
| Risk Factors |
|---|
| INVESTORS CAPITAL HOLDINGS LTD ITEM 1A RISK FACTORS An investment in ICH common stock involves risk |
| Current and prospective investors should consider carefully the following risk factors, in addition to the other information contained in this and other reports and documents filed by us with the SEC, including documents incorporated herein by reference, before making decisions to purchase, hold or sell ICH common stock |
| Any failure of our investment professionals to comply with regulatory requirements may cause us to incur losses or suffer substantial harm to our business and operations |
| Our investment professionals are required by law to be licensed with our subsidiaries as registered broker-dealer representatives and/or investment adviser representatives and solicitors |
| Pursuant to these requirements, these investment professionals are subject to our supervision in the area of compliance with applicable federal and state securities laws, rules and regulations, as well as the rules and regulations of self-regulatory organizations such as the NASD The violation of any regulatory requirements by us or our investment professionals could jeopardize our broker-dealer or investment adviser license and could subject us to fines and liability to customers |
| As an example, a pending administrative complaint brought by the Massachusetts Securities Division alleges that our broker-dealer subsidiary violated its supervisory obligations in connection with sales of equity-indexed annuities by certain of its independent representatives |
| The complaint seeks, among other things, a fine, restitution of customer losses and suspension or revocation of the firmapstas Massachusetts broker-dealer license |
| An adverse disposition of this proceeding, which is being vigorously contested by the Company, could have a material adverse effect on our financial position and results of operations |
| Any loss of key personnel could adversely affect our business and financial condition through the loss of significant business relationships that may not be easily recreated |
| Our success is largely dependent on the skills, experience and performance of certain key personnel, particularly Theodore E Charles, our chairman, chief executive officer and president whose long-term relationships with our investment professionals and business partners has been and continues to be the driving force to our companyapstas success, and Timothy B Murphy, our executive vice president, treasurer and chief financial officer as well as the president of our broker-dealer subsidiary |
| Charles and/or Murphy or other senior management could have an adverse effect on our business, financial condition and results of operations |
| Consumer fraud could harm our earnings and profits by requiring us to expend time and money and exposing us to financial loss and the potential for arbitration or other legal proceedings |
| We are constantly exposed to the risk of significant losses as a result of customer fraud |
| Activities such as authorizing trades and not accepting those trades if anticipated stock movement is not achieved; paying for transactions with bad funds; improperly stating investment experience, net worth, income amount and tolerance for risk, could result in the expenditure of time, money and actual loss, with the latter exposing us to the potential for arbitration |
| Actual or alleged fraud and misconduct by investment professionals and employees has resulted in and exposes us to an ongoing potential for litigation and regulatory sanctions that could substantially harm our business and results of operations |
| Employees and investment professionals constantly expose us to the risk of significant losses as a result of employee errors, investment professional misconduct and fraud |
| Such misconduct could include binding us to transactions that exceed authorized limits or present unacceptable risks, or hiding from us unauthorized, unsuccessful or improper activities |
| It is not always possible to deter employee or independent contractor misconduct, and the precautions we take to prevent and detect this activity may not be effective in all cases |
| 13 |
| In the past our broker-dealer subsidiary had not been in compliance with its required net capital reserve because of an accounting oversight relating to under-accrued commissions |
| These under-accrued commissions occurred in the last five days of a month where the receipt of income did not have a corresponding commission payable expense item applied against it |
| We made a capital infusion into our broker-dealer subsidiary in the amount of dlra200cmam000 in order to correct the net capital deficiency and, at the same time, notified the regulatory authorities of the net capital problem and our corrective action |
| No regulatory action was taken against our broker-dealer subsidiary |
| Any similar or other failure to maintain adequate accounting procedures and internal controls could result in regulatory sanctions being applied against our broker-dealer subsidiary, which sanctions could severely restrict our activities, require us to pay substantial fines and limit our ability to make money |
| We are routinely involved in legal proceedings that can burden our resources and pose an ongoing risk of adverse dispositions that could negatively impact our earnings and profits |
| By the nature of our business, we are continually involved with various judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of our business |
| At March 31, 2006, the Company was the co-defendant in several lawsuits with claims totaling approximately dlra4dtta10 million |
| Although we currently have insurance that may limit our exposure in these cases, if we are found liable in material amounts in these or other legal proceedings, such eventuality may result in restricting the availability and/or increasing the cost of insurance against such risks and may have a significant adverse effect on our earnings and profits |
| Any change in our clearing firm could result in our inability to process transactions in a timely manner which could adversely affect our business operations and profits |
| Our current clearing agreement is with Pershing, which processes most of the securities transactions for our account and the accounts of our customers |
| We also rely on our clearing firm for our Internet securities trading activities, which is a growing portion of our business |
| Our agreement with Pershing may be terminated by either party on ninety days written notice |
| A change in our clearing firm could result in the inability of our customers to transact business in a timely manner due to delays and errors in the transfer of their accounts, which, on a temporary basis, could affect our earnings and profits |
| Managementapstas ownership of our common stock assures their control of most corporation actions requiring a shareholder vote |
| The Companyapstas executive officers beneficially own in the aggregate a majority of the Companyapstas common stock |
| Accordingly, they collectively are able to determine the outcome of virtually all corporate actions requiring approval by the stockholders of the Company, including, without limitation, the election of directors and the approval of the sale of the Company or its assets |
| We face vigorous competition |
| The financial industry segments in which the Company and its subsidiaries operate are highly competitive, and many of our current and potential competitors have considerably greater financial, technical, marketing and other resources than are available to us |
| The price of our common stock may continue to be volatile |
| The market price of our common stock has fluctuated substantially in the past including during the last twelve months |
| The price of our common stock may be subject to fluctuations in the future in response to operating results, regulatory and other legal proceedings, general market movements and other factors |
| In addition, the stock market in recent years has experienced price and volume fluctuations that often have been unrelated or disproportionate to the operating performance of companies |
| These fluctuations, as well as general economic and market conditions, may adversely affect the market price of our common stock |
| Any market decline could adversely affect our revenues and earnings |
| Because our revenues and earnings are derived from investments made by consumers, a substantial market decline, similar to the period after September 11, 2001, can impact the investment decisions made by consumers |
| Our market is speculative and is subject to volatility as a result of unfortunate events |
| 14 |
| A founder of Investors Capital Holdings, Mr |
| Charles has served as the Companyapstas chairman of the board, chief executive officer and president since its inception in 1995 |
| Charles also has served as the chief executive officer of our subsidiaries, Investors Capital Corporation ( "e ICC "e ) and Eastern Point Advisors, Inc ( "e EPA "e ) since their founding in 1994 and 1995, respectively |
| Charles served on the Board of Directors of Revere Savings Bank of Massachusetts from 1997 to 2001 and served on the Advisory Board of Danvers Savings Bank from 2001 to 2003 |
| Charles currently holds various securities licenses, including series 6, 63, 7 and 24, has been a member of the Financial Planning Association since 1985 and formerly served as Chairman of the Shareholder Advisory Board of Life USA Insurance Company |
| Timothy B Murphy, age 41, principal financial officer and principal accounting officer |
| A founder of the Company, Mr |
| Murphy has served as executive vice president, treasurer and chief financial officer of the Company since its inception, and as president of its subsidiaries, ICC and EPA, since their respective inceptions |
| He entered the securities industry in 1991 as an operations manager in the Boston regional office of Clayton Securities |
| By 1994, he was serving as compliance officer of Baybanks Brokerage and a vice president of GR Stuart & Company, another brokerage firm |
| Murphy holds various securities licenses including series 4, 7, 24, 27, 53, 63 and 65 |
| Preskenis has served as Chief Operating Officer of ICC, and has performed similar policy-making functions for ICH, since February 2006 |
| Preskenis, who joined the Company in August 2000 as a compliance attorney, also has served as General Counsel of ICC, and has performed similar functions for ICH, since March 2003, and has served as Secretary of ICH since September 2005 |
| Prior to joining ICC in August 2000, Mr |
| Preskenis served as an Alternative Dispute Resolution attorney with John Hancock Life Insurance Company commencing in 1998 |
| Preskenis is a member of the Massachusetts Bar and a graduate of Suffolk University Law School |