Kansas banking regulators, Beneficient prepare for battle over cease-and-desist order

Kansas banking regulators, Beneficient prepare for battle over cease-and-desist order - Newton Kansan

Dallas company granted unique state bank charter enters new phase of conflict By Tim CarpenterKansasReflector.com TOPEKA — Kansas regulators allege a business reeling from fraud convictions of the company founder violated 32 banking provisions and recommend repeal of the related state law designed to transform Kansas into a magnet of alternative-asset dealmaking. Kansas Bank Commissioner […]

Banking regulators bring enforcement action against unique financial institution

State banking regulators have brought an enforcement action against a unique type of Kansas financial institution  that allows affluent investors to liquidate alternative assets such as venture capital and private equity that aren’t easily converted to cash. Kansas Bank Commissioner David Herndon revealed publicly on Thursday that a notice of charges was issued to Beneficient Fiduciary Financial - also known as BFF - for 32 alleged violations of…

Kansas banking regulators, Beneficient prepare for battle over cease-and-desist order

Kansas bank commissioner wants to spike unique bank charter held by a Texas-based company previously led by a scandal-plagued executive headed to prison.