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Credit Suisse suspends controversial supply side finance fund linked to Greensill Capital

Lugano, Switzerland - 15 march, 2016: Credit Suisse sign over the entrance of the Credit Suisse office. Credit Suisse Group is a Switzerland-based multinational financial services holding company.

@peter_IFAMAG reads Twitter so you don’t have to.


In a Twitter scoop, Robert Smith, of the Financial Times, reports Credit Suisse suspends controversial supply-chain financing fund. Greensill Capital, where ex-PM David Cameron sits as an adviser, is linked to the $10bn fund range. Critics of the supply-chain financing technique say that it allows accountants to conceal debt. Elsewhere on Twitter, Andrew Bailey comes under scrutiny. Concerns were brought to the FCA about Neil Woodford’s business back in 2015, two years before they took any action.

First, did you know Goldman Sachs turned down a 50% share in Alibaba, that would now be worth more than $200bn?

Reports over the weekend suggest concerns were raised to the FCA about Neil Woodford’s business in 2015. The regulatory body, headed by now Bank of England Governor Andrew Bailey, waited two years before they took any action.

The FCA also comes under fire this week as it hires internally for executive position for “transformation.”

Robert Smith of the Financial Times reports Credit Suisse suspends its supply chain finance fund. Smith shares key background details in this thread.

And finally Coinbase, the cryptocurrency exchange platform prepares to go public, with $90bn worth of assets held through their site.


What are your thoughts on these tweets?

Tweet your responses to @peter_IFAMAG

 

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