LEGISLATION
DALLAS — January 3, 2022 — The Charter enables Ben to serve as a regulated fiduciary in providing liquidity, custodial and administrative management services to alternative asset investors and managers under Kansas’ 2021 Technology Enabled Fiduciary Financial Institutions (TEFFI) Act.
LEGISLATION
DALLAS — June 15, 2021 — The Kansas TEFFI Act is a gamechanger for our industry as it provides the first unifying regulatory framework for general partners, sponsors, custodians, and transfer agents to better serve a growing pool of alternative asset investors and managers who finance and manage alternative asset holdings.
LEGISLATION
DALLAS — June 8, 2021 — The law, called the Technology Enabled Fiduciary Financial Institutions Act, allows for the creation and chartering of trust banks, to be known as TEFFIs, that as fiduciaries, finance alternative assets held in Kansas trusts as well as provide custodial and trustee services in the state.
LEGISLATION
DALLAS — July 6, 2021 — Ben announced the issuance of a conditional trust banking charter from the Kansas State Bank Commissioner to establish a fiduciary financial institution within the State of Kansas. The conditional charter, issued July 1, 2021, marks the beginning of Ben’s role as pilot under a new set of industry regulations enacted within the State of Kansas through the Technology Enabled Fiduciary Financial Institutions (TEFFI) Act.
