[Karen37a]

** This is why I said when a battle for regulation happens...the state wants control not the Federal Govt



https://www.reuters.com/article/us-u...-idUSKCN1MZ256

A body of U.S. state banking regulators on Thursday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and puts consumers and taxpayers at risk.

The Conference of State Bank Supervisors (CSBS) said it had filed a complaint in the U.S. District Court for the District of Columbia against the Office of the Comptroller of the Currency (OCC) over its plan, announced in July, to issue bank charters to financial technology firms.

[Karen37a]

Article on Debanked on how Regulators like to be "approached"

https://debanked.com/2018/10/how-reg...be-approached/

The first person I hear from I don’t listen to,” said Paul Watkins, Director of the Office of Innovation for the U.S. Bureau of Consumer Financial Protection (BCFB). He clarified with deBanked after the panel discussion that this is in reference to his previous regulatory role as Civil Litigation Division Chief at the Arizona Office of the Attorney General. He said that this “first person” he doesn’t listen to refers to the lobbyist. Watkins continued: “The second person might have something interesting to say and the person who is quiet maybe knows what’s going on, and I’m interested to learn from them.” The “second person,” he explained, might be the CEO of a company and the “quiet person,” he said, would often be a non-senior level employee at a company who really sees what’s happening on the ground level.

____


"I hope you washed your arse this morning its about to be kissed by a King "


You have bled with Wallace, Now Bleed with me

https://www.youtube.com/watch?v=eclbaC3q94k



Ps . When a Regulator is in a firm no employees are allowed to speak to him. Not even to say boo. A letter must go out a day earlier and then they speak to the regulator with someone else in the room...the compliance officer or osj... me

[Karen37a]

Questions to ask Compliance before regulators visit your firm

Why is the regulator visiting?
What do they need to know about the firm?
Are there specific issues they’re concerned about?
What do I need to do to ensure the firm presents itself well

( you do not speak to them period unless its an individual issue and they are compelling you to...compliace officer present because that person actions would harm the firm as well...BOTH are responsible)

REgulation wants to know from the Firm or Company
( who has to speak to them)

1. How does our sales process work?

One of the things the regulator will be looking for is assurance that you have clear processes, understand them and follow them.

2. What management information reporting is in place?
ny risks, whether operational or borne out of your financial promotions and customer communications, need to be identified, recorded and responded to. Again, the regulator will want to see that clear processes for this are in place.

3. How are management decisions communicated to staff?

What sort of culture does the firm have?

How does management communicate and demonstrate the behaviours the firms expect around ethics and corporate governance?

5. How does senior management get input/feedback from clients?

6. What training arrangements are in place?

( do not say Karen on the DF)

7. If the company use external advisers, how are they monitored and supervised?

( including iso broker channels, portals and online applications)

True Referal fees will be capped at $100

8. Do they keep records of staff recruitment, training, competency assessment and staff supervision

9. What compliance services do we have in place when working with a third-party supplier

10. Encryption and record keeping on all applications, lead generation and portals

11. Running credit and speperate rules and laws on that and other mini regulatory isses

**** I can keep going to about 50 key points and have a huge company compliance section to my old companies manuals that I created . Ive said over and over you do not have 30 years in Financial Services with out ONE MARK...if you do not know the rules like the back of your hand**

this "karen had a dui so she doesnt want regulation" will be the least of anyone's worries

I am not the compliance officer...I am a cold caller gl

( some of us are not figuring out our way thru "new systems"...everything old is new again )

And I m not a lawyer I only play one on TV... everyone seek out advice

[Karen37a]

In the Hedge Fund World, The distaste of fame often morphs into outright secrecy, especially amongst the hedge-fund set.

Fame is a sign of weakness, secrecy is a sign of success

Then after a life of secrecy, you can rest with your money.

Don't ask why there are no traces of my extensive financial background anymore. I wanted it that way.

[Nunya]

I think you just won.