Park fund

English translation: "park temporarily or hide funds

13:10 Sep 27, 2014
English language (monolingual) [Non-PRO]
Bus/Financial - Accounting / Code of Conduct
English term or phrase: Park fund
This is the text:

XX Partners should refuse any request by any XX employee to create misleading, inaccurate or false documentation, including to “park funds” or misrepresent the intended use for funds.

Could anybody helps explain the term. Your help will be much appreciated.
Chinh Chu
Local time: 05:09
Selected answer:"park temporarily or hide funds
Explanation:
There are two meanings. See here
http://financial-dictionary.thefreedictionary.com/Parking

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Note added at 54 mins (2014-09-27 14:04:53 GMT)
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. Placing idle funds in a safe, short-term investment while awaiting the availability of other investment opportunities. Many investors end up parking proceeds from a security sale in a money market account while searching for other securities to purchase.
2. Transferring stock positions to another party so that true ownership of the stock will be hidden. For example, an investor involved in the takeover of a company may park securities of the company with other investors so that the management of the target company will not know the extent of the investor's stock ownership. Parking for this purpose is generally illegal.

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Note added at 57 mins (2014-09-27 14:07:43 GMT)
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So, here it seems that the Partners are being warned about attempts under the second option with the words "misrepresent" and "misleading" and "false" used

"create misleading, inaccurate or false documentation, including to “park funds” or misrepresent the intended use for funds".


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Note added at 1 hr (2014-09-27 14:10:19 GMT)
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or here

http://www.investopedia.com/terms/p/parking.asp
Investopedia explains 'Parking'
Definition of 'Parking'

A form of kiting shares that a brokerage commits by moving long positions in unrelated accounts to cover short positions that are improperly settled according to SEC regulations....

When parking shares, brokerage firms are attempting to cover undeclared short positions left over from transactions whose stock was not delivered by the settlement date. Rather than performing a buy-in transaction, these firms collude with one another and, by delaying the settlement process, inflate the number of shares available for trade in the secondary market.



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Note added at 1 hr (2014-09-27 14:21:06 GMT)
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http://www.wifcon.com/bona/bonafide1.htm

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Note added at 15 days (2014-10-13 00:40:35 GMT) Post-grading
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Glad to have helped
Selected response from:

Yvonne Gallagher
Ireland
Local time: 22:09
Grading comment
Thank you for your great answer and explanation
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
4 +3"park temporarily or hide funds
Yvonne Gallagher
5place the money someplace (hold it e.g. in an account)
Charlesp
3make the funds unusable or inaccessible
Arabic & More


Discussion entries: 2





  

Answers


48 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
park funds
make the funds unusable or inaccessible


Explanation:
If you Google the term, you will see that "parking funds" usually means to place funds (money) somewhere, often temporarily. For example:

The participant temporarily parked the funds in a non-IRA account...

www.brendelfisher.com/resources/financial-briefs-2?id=2011

In the context you are asking about, it seems to mean that the funds are placed somewhere so that they are not accessible for their intended use. The are "parked" or halted.

Others may have additional insights, but this is how I understand it.

Arabic & More
Jordan
Native speaker of: Native in EnglishEnglish
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1 day 18 hrs   confidence: Answerer confidence 5/5
park funds
place the money someplace (hold it e.g. in an account)


Explanation:
Funds means monies.

Park simply means to put the monies someplace. There is nothing notorious about this. Park also implies a sense of temporariness about it. Most commonly overnight. But could be for a longer term. But it is not really an investment (even if interest may be paid on it). It is a place here it is held.

Based on context, you'd have to figure out if the "parking" of the monies was with a legitimate purpose or not. The term is neutral; the context makes the meaning.

Note the posting has a typo. It is "funds" and not "fund" - there is a big difference.

Charlesp
Sweden
Local time: 23:09
Specializes in field
Native speaker of: English
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54 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
park fund
"park temporarily or hide funds


Explanation:
There are two meanings. See here
http://financial-dictionary.thefreedictionary.com/Parking

--------------------------------------------------
Note added at 54 mins (2014-09-27 14:04:53 GMT)
--------------------------------------------------

. Placing idle funds in a safe, short-term investment while awaiting the availability of other investment opportunities. Many investors end up parking proceeds from a security sale in a money market account while searching for other securities to purchase.
2. Transferring stock positions to another party so that true ownership of the stock will be hidden. For example, an investor involved in the takeover of a company may park securities of the company with other investors so that the management of the target company will not know the extent of the investor's stock ownership. Parking for this purpose is generally illegal.

--------------------------------------------------
Note added at 57 mins (2014-09-27 14:07:43 GMT)
--------------------------------------------------

So, here it seems that the Partners are being warned about attempts under the second option with the words "misrepresent" and "misleading" and "false" used

"create misleading, inaccurate or false documentation, including to “park funds” or misrepresent the intended use for funds".


--------------------------------------------------
Note added at 1 hr (2014-09-27 14:10:19 GMT)
--------------------------------------------------

or here

http://www.investopedia.com/terms/p/parking.asp
Investopedia explains 'Parking'
Definition of 'Parking'

A form of kiting shares that a brokerage commits by moving long positions in unrelated accounts to cover short positions that are improperly settled according to SEC regulations....

When parking shares, brokerage firms are attempting to cover undeclared short positions left over from transactions whose stock was not delivered by the settlement date. Rather than performing a buy-in transaction, these firms collude with one another and, by delaying the settlement process, inflate the number of shares available for trade in the secondary market.



--------------------------------------------------
Note added at 1 hr (2014-09-27 14:21:06 GMT)
--------------------------------------------------

http://www.wifcon.com/bona/bonafide1.htm

--------------------------------------------------
Note added at 15 days (2014-10-13 00:40:35 GMT) Post-grading
--------------------------------------------------

Glad to have helped

Yvonne Gallagher
Ireland
Local time: 22:09
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thank you for your great answer and explanation

Peer comments on this answer (and responses from the answerer)
agree  Edith Kelly: but non-Pro
8 mins
  -> Thanks. (I don't believe it's non-Pro though)

agree  Charles Davis: Almost certainly means concealing ownership of stock. Definitely not non-Pro.
2 hrs
  -> Thanks

agree  Aleksandra Kleschina
6 hrs
  -> Thanks
Login to enter a peer comment (or grade)



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