State banking regulators are planning to impose a formal corrective action order on a unique 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.
State Banking Commissioner David Herndon told lawmakers Thursday that his agency will institute two new oversight provisions for Beneficient Fiduciary Financial after the business underwent an examination that concluded July 23.
Herndon's comments came Thursday at a joint legislative oversight committee meeting held after . . .
SSJ
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