Banking News – Buffett’s Woodstock of Capitalism — As it happened
 Live updates from Berkshire Hathaway’s annual shareholders meeting in Omaha, Nebraska
Fiscal Times – Fiscal Air force – http://blogs.ft.com/the-world/liveblogs/2016-04-28/?ftcamp=published_links%2Frss%2Fcompanies_financial-air force%2Ffeed%2F%2Fproduct
Month: April 2016
The long saga of selling Williams & Glyn
Banking News – The long saga of selling Williams & Glyn
 Carving out rival bank has taken five years and may take at least another two
FT.com – Banks – http://www.ft.com/cms/s/0/c842fc72-0e08-11e6-ad80-67655613c2d6.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct
Clydesdale and Yorkshire develops AI app
Banking News – Clydesdale and Yorkshire develops AI app
 Bank to launch app as customers demand digital banking
FT.com – Banks – http://www.ft.com/cms/s/0/43b73c26-0e16-11e6-ad80-67655613c2d6.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct
Buffett’s Woodstock of Capitalism — Live
Banking News – Buffett’s Woodstock of Capitalism — Live
 Updates from the Berkshire Hathaway’s annual shareholders meeting in Omaha, Nebraska
Fiscal Times – Fiscal Air force – http://blogs.ft.com/the-world/liveblogs/2016-04-28/?ftcamp=published_links%2Frss%2Fcompanies_financial-air force%2Ffeed%2F%2Fproduct
Four Months into 2016 and Only Two Bank Failures
Banking News – Four Months into 2016 and Only Two Bank Failures
 When state and federal regulators closed Trust Company Bank in Memphis, Tenn., on Friday, it was only the second U.S. bank failure this year.
Union Banking – http://www.americanbanker.com/news/law-parameter/four-months-into-2016-and-only-two-bank-failures-1080769-1.html
Chinese lend $12bn for Russian gas plant
Banking News – Chinese lend $12bn for Russian gas plant
 Boost for Putin’s flagship project after US sanctions target its largest shareholder
FT.com – Banks – http://www.ft.com/cms/s/0/4ca8886e-0e14-11e6-ad80-67655613c2d6.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct
Bank’s Oil Exit Creates New Questions for Energy Lenders
Banking News – Bank’s Oil Exit Makes New Questions for Energy Lenders
 Green Bancorp’s bolt from the blue declaration to purge all of its oil credits comes at a time when other banks have been increasingly paring back exposure.
Union Banking – http://www.americanbanker.com/news/union-banking/banks-oil-exit-makes-new-questions-for-energy-lenders-1080764-1.html
The Bancorp in Delaware Swings to Loss, Hit by AML Costs
Banking News – The Bancorp in Delaware Swings to Loss, Hit by AML Costs
 The Bancorp in Wilmington, Del., swung to a first-quarter loss on higher costs to review and improve its falling in line with anti-money-laundering laws.
Union Banking – http://www.americanbanker.com/news/union-banking/the-bancorp-in-delaware-swings-to-loss-hit-by-aml-costs-1080759-1.html
SEC: Accounting Firm, Partner Conducted Deficient Surprise Exams
Banking News – SEC: Accounting Firm, Partner Conducted Unsatisfactory Bolt from the blue Exams
 
The Securities and Chat Fee today announced that an accounting firm and one of its partners who conducted bolt from the blue examinations of client assets at an investment adviser have agreed to settle charges that they performed poorly as the adviser’s head secretly stole money from fiscal proclamation belonging to certified athletes.
The SEC’s order finds that Santos, Postal & Co. P.C. and Joseph A. Scolaro conducted unsatisfactory bolt from the blue custody examinations of SFX Fiscal Advisory Management Enterprises and did not adequately thought-out fraud risk factors. They twice filed red tape with the SEC that top secret untrue statements. In one reason they stated that they complied with certain procedures to verify client assets when in fact they never did. In the second reason they stated that client assets were held with a certified janitor when in fact they were not.
“Bolt from the blue custody exams of investment advisers serve a vital role in caring against the misuse of client assets and exposure such misuse when it occurs,” said Anthony S. Kelly, Chief of the SEC Enforcement Rift’s Asset Management Unit. “Santos, Postal & Co. failed to confirm with SFX’s clients the donations made to and from their fiscal proclamation and then made untrue statements about its custody exams.”
The SEC earlier announced charges against SFX’s head Brian J. Ourand, who was later found by an administrative law judge to have misappropriated funds from client fiscal proclamation in violation of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. In the initial declaration issued last month, Ourand was ordered to pay disgorgement of $671,367 plus preconception appeal and a $300,000 penalty, and he was barred from the securities diligence. SFX and its CCO unconnectedly agreed to settlements.
Santos, Postal & Co. and Scolaro consented to the SEC’s order finding that they debased Section 207 of the Advisers Act and engaged in inappropriate certified conduct pursuant to Section 4C of the Securities Chat Act of 1934 and Rule 102(e) of the Fee’s Rules of Do. Without admitting or denying the findings, they agreed to be floating from appearing and involved before the SEC as an accountant, which includes not participating in the fiscal exposure or audits of public companies. The SEC’s order permits Santos, Postal & Co. to apply for recall after one year and Scolaro after five years.
Santos, Postal & Co. also agreed to disgorgement of $25,800 in profits that the firm obtained for the theater the exams plus appeal of $3,276.76 and a penalty of $15,000. Scolaro agreed to pay a $15,000 penalty.
The SEC’s investigation was conducted by Payam Danialypour of the Asset Management Unit in the Los Angeles office and accountant Deborah Russell in Washington D.C.
SEC.gov Updates: Press Releases – http://www.sec.gov/news/pressrelease/2016-78.html
Royal Bank of Scotland sucked into 1MDB probe
Banking News – Royal Bank of Scotland sucked into 1MDB probe
 Swiss valve probing fiscal proclamation at former global rift of lender’s Coutts private bank
FT.com – Banks – http://www.ft.com/cms/s/0/ce93f2a8-0e07-11e6-b41f-0beb7e589515.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct
Stockpicking — you may as well forget it
Banking News – Stockpicking — you may as well forget it
 Everyone is buying Facebook — and that makes me nervous
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/2961372a-0e00-11e6-b41f-0beb7e589515.html?ftcamp=published_links%2Frss%2Fcompanies_financial-air force%2Ffeed%2F%2Fproduct
Central Valley to Buy Sierra Vista in California
Banking News – Central Valley to Buy Sierra Vista in California
 Central Valley Union Bancorp in Fresno, Calif., has agreed to buy the $156 million-asset Sierra Vista Bank in Folsom, Calif., for $24 million, or $5.22 a share, in cash and stock.
Union Banking – http://www.americanbanker.com/news/dealmaking-approach/central-valley-to-buy-sierra-vista-in-california-1080753-1.html
RBS: refusing to yield
Banking News – RBS: refusing to yield
 Chances of a bonus payout are losing ground
FT.com – Banks – http://www.ft.com/cms/s/3/a5ebe2b6-0df8-11e6-b41f-0beb7e589515.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct
MSCI Peru ruling threatens Frontier index
Banking News – MSCI Peru ruling threatens Boundary index
 Fears the go would drive foreign investment away from $67bn bourse
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/3/d67edee6-0c87-11e6-9456-444ab5211a2f.html?ftcamp=published_links%2Frss%2Fcompanies_financial-air force%2Ffeed%2F%2Fproduct
State pension: Does it pay to delay?
Banking News – State pension: Does it pay to delay?
 Deferring the benefit will boost your payments — if you survive long enough to receive them
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/8e603ec4-0878-11e6-b6d3-746f8e9cdd33.html?ftcamp=published_links%2Frss%2Fcompanies_financial-air force%2Ffeed%2F%2Fproduct
Can I get a mortgage to buy abroad?
Banking News – Can I get a finance to buy abroad?
 As a typical millennial who cannot afford a UK home, I want to buy in Italy
FT.com – Banks – http://www.ft.com/cms/s/0/3e9e2a38-0b87-11e6-9456-444ab5211a2f.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct
Chinese banks disguise risky loans
Banking News – Chinese banks disguise risky loans
 Lenders use fiscal commerce to evade set of laws calculated to limit risk
FT.com – Banks – http://www.ft.com/cms/s/0/9fcbdedc-0d16-11e6-b41f-0beb7e589515.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct
Property funds build cash reserves
Banking News – Material goods funds build cash capital
 Brexit threat, stamp duty changes and market wobbles affect sentiment
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/52be9858-0c5a-11e6-b0f1-61f222853ff3.html?ftcamp=published_links%2Frss%2Fcompanies_financial-air force%2Ffeed%2F%2Fproduct
Jupiter hires former CIA agents
Banking News – Jupiter hires former CIA agents
 Ex-employees of the US acumen agency are culture fund managers in the art of grilling
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/a33eb562-0d61-11e6-ad80-67655613c2d6.html?ftcamp=published_links%2Frss%2Fcompanies_financial-air force%2Ffeed%2F%2Fproduct
Court blocks Novo Banco bond move
Banking News – Court blocks Novo Banco bond go
 Injunction stalls Bank of Portugal plot to conveying liabilities to ‘terrible bank’
FT.com – Banks – http://www.ft.com/cms/s/0/b9618360-0d7f-11e6-ad80-67655613c2d6.html?ftcamp=published_links%2Frss%2Fcompanies_banks%2Ffeed%2F%2Fproduct