An institution established in an offshore financial center to provide for the needs of a corporation or a group through a subcontracted local bank. The managed bank does not necessarily have to be physically present in the place. Often it consists only of a division of an entity established in the relevant jurisdiction that provides its services as a management company for many foreign letterbox companies (letterbox companies, mail-drop companies) (a managed bank is not required to maintain a physical presence in the licensing jurisdiction; its presence in the licensing jurisdiction often is passive with nominee directors and officers provided by a managing trust company with an own physical presence). – See supervisory avoidance, outsourcing, brokerage, financial fugitive, international business company, managed bank, market manipulation, cross-border, reporting procedures, nominee, offshore booking, outsourcing, alignment of laws, shadow banking, loss camouflage, Sarbanes-Oxley Act, zombie bank, special purpose vehicle.
Managed account (also used in German, but with different meanings): Generally, a financial investment in which a bank manages the customer’s deposits itself for accounting purposes, but has them managed by another institution. This involves an increased risk. – A portfolio that a customer has managed by a commercial professional (a portfolio of assets owned by an individual investor, but the account has a professional investment manager who makes decisions to buy and to sell). – See investment advice, outsourcing, discretionary account, financial advisor, insourcing, loan factory, outsourcing. – See BaFin Annual Report 2005, p. 127 f. (Phoenix fraud case: not detected even by BaFin special audit), BaFin Annual Report 2006, p. 129 (judgments in Phoenix fraud case), BaFin Annual Report 2009, p. 177 (outsourcing at investment companies; outsourcing to a third country).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/