Tuesday, February 9, 2016

TNT :Apexdinar: Bankers and regulatory violations (early exchanges), 9 FEB

Apexdinar:  Bankers and regulatory violations (early exchanges)
OK folks, sharing some info that I think is beneficial:

Got news late yesterday of two private bankers being arrested for futures trading violations - while actually sitting in their offices at their respective banks (both in Texas, two separate banks, two separate bank locations/cities) - should be in the news over the next 24-48 hour news cycle, unless it gets swept under the rug. 

My contact confirmed it was related to offering currency exchange rates outside of regulatory purview.  Anyone getting called in by a wealth mgr or private banker to do, 'early exchanges' may just wanna sprint the opposite direction.  Early exchanges = currency futures speculation, and private bankers negotiating futures rates are now getting heat, including termination and pending prosecution.

Glad Ray mentioned that people offered these private deals walked away.  Everyone else who has either done an actual exchange or received an SKR with a, 'locked-in' rate may be subject to transactional audit - since big-wigs/whales were involved, I'm just not sure how much of this will see the light of day.

My buddy explained it to me this way - bankers with, 'insider knowledge' of pending rate increases who offer exchanges are acting with foreknowledge, and there are now several regulatory agencies bringing heat. 

He expects a memo to go out addressing this, but he also acknowledged it may end up being more meeting-related (he said they may avoid documenting this, to not create a paper trail).  I hope to have more info to share with everyone here over the coming days, but also accept that I may not get any more info due to the seriousness of the situation.

I implore everyone to just let this thing unfold in its time - build a banking relationship, be ready, but be extremely cautious.  Be wise as serpents and harmless as doves.  And - as much as I sound like a broken record - this remains a speculative investment with no guarantees. 

We see it right before our eyes, we see bankers jumping the gun, but we just do not know with certainty how everything will transpire until it does.  I'm encouraged, to a certain extent, that bankers are confident enough to offer deals before the actual event...just don't want any of us being sucked into the vortex of regulatory violations and insider trading.
Hold fast to what is good, TNT brethren!

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