does any one know the difference between security firms and banks?

Answer 1

Security firm is a firm who deals in brokerage or trading for their own of many types of securuties such as shares or equity securities,bonds or obligation securities,medium term notes etc.Their daily transactions are buying and selling securities for their customers or for their own risk.If they buy it for their custumers they will get a commission and have no risk for price changes..They get profit or loss for their own risk securities.
Bank is a financial institution which can be operated after getting a license.Bank is divided into general bank and special bank.As a general bank,bank can receive money from their customers for a time deposit,for current account and for saving account.Bank can act as a mediator for giving a loan to companies and individuals who need money for their daily working capital and investment of their businesses..Bank earns their income from loans that is called interest income and commission and pays interest expense to depositors.We can make a money transfer to others through a bank.We can also ask bank to collect our receivables.We can buy and sell our foreign bank notes from /to a bank.We can open a letter of credit in a bank for facilitating our import and export transaction..We can let our valuable keep in in a save deposit in a bank.We can also ask a financial guarantee to a bank..For protecting its customors.bank is a highly regulated company.The Central bank supervise the activities of all banks in the country.They should be prudent and they are prohibited to receive a money laundering.The board of commissioners and board of directors member of a bank should be tested for fit and proper by the central bank officer.A bank can has a correspondence bank abroad.Big bank has many branches in the domestic market.
Bank should apply a sound management especially risk management and should has a good information technology..The management of Bank should report periodically to the central bank.

Answer 2

Success as a sole practitioner depends upon whether or not one is a good sales person, necessary to obtain clients. It also depends upon luck in getting a great case, to some extent. You must also be able to run a business, something normally not taught in law school. Working for yourself is great if you have the self-discipline required. For the first year, expect not to make more than 20-30k, but this will improve as you obtain more clients. Both groups work long hours, but more time is generally required for an associate at a firm. Insurance and an I.R.A. are benefits. It can be stressful and difficult to work for a number of "bosses" at a firm, some with unpleasant personalities. The pay at all but the largest U.S. firms can be as low as $40,000 a year.

Answer 3

General securities firms are brokers or dealers who carry customer or other broker/dealer accounts and receive and hold securities and funds for those accounts. Also called carrying, clearing firms. No tellers, no ATM's, no checking/saving accounts, no safe-deposit boxes, etc.

A bank is a depository institution or a financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks, and credit unions. Although historically they have specialized in certain types of credit, the powers of nonbank depository institutions have been broadened in recent years. For example, NOW accounts, credit union share drafts, and other services similar to checking accounts may be offered by thrift institutions.

Answer 4

Security Firms make money buying and selling securities and charging a small comission for each security.

Banks make money with loans.

Some Banks sell and buy securities and some security firms lend money to their customers.