Private

SAFEbuilt Revolutionizes Plan Reviews in Nashville, Empowering Developers and Accelerating Projects

Retrieved on: 
Friday, March 22, 2024
Control, Private, Knowledge, Quality control, Quality assurance, Safety, Online shopping

As the first company approved by the Metro Department of Codes and Building Safety for third-party plan review, SAFEbuilt is offering developers unprecedented reliability, quality assurance, and time-saving solutions.

Key Points: 
  • As the first company approved by the Metro Department of Codes and Building Safety for third-party plan review, SAFEbuilt is offering developers unprecedented reliability, quality assurance, and time-saving solutions.
  • For high-profile projects like Alta City Side and Alta Rochelle, that kind of in-depth knowledge is essential, and SAFEbuilt consistently delivers."
  • By streamlining the process and ensuring quality standards, SAFEbuilt helped bring these vital projects to life faster and more efficiently.
  • Developers in the Nashville greater metropolitan area rely on SAFEbuilt to reduce plan review turnaround times and ensure their projects meet the highest standards of safety and quality.

Berkshire Hills Bancorp Bolsters Commercial & Private Banking Franchise

Retrieved on: 
Thursday, March 21, 2024
Private, Growth, EVP, Health, Commercial, Senior, Private banking, Former, Berkshire Bank, Tutoring

BOSTON, March 21, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a relationship-driven, community-focused bank with financial centers in New England and New York, is pleased to welcome Torrance Childs, former President of Private Banking at Boston Private Bank & Trust, to the Company as Chief Commercial Deposit Officer.  

Key Points: 
  • Torrance Childs, Former President of Private Banking at Boston Private, 40-Year Boston Banking Veteran, Joins Berkshire to Accelerate Client Growth & Experience
    BOSTON, March 21, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a relationship-driven, community-focused bank with financial centers in New England and New York, is pleased to welcome Torrance Childs, former President of Private Banking at Boston Private Bank & Trust, to the Company as Chief Commercial Deposit Officer.
  • In his new role, Childs will focus on delivering personalized service, customized solutions and an integrated platform across commercial and private banking.
  • He will report to Jim Brown, Senior EVP, Head of Commercial and Private Banking.
  • Childs will work closely with the Private Banking team, led by Managing Director Beth Mineo, and the commercial leadership team.

Why Investors Love the Kay Properties Online Marketplace for DST Investment Opportunities

Retrieved on: 
Thursday, March 21, 2024
Attention, DST, Private, PPM, Walking, Delaware statutory trust, FREE, Trauma surgery, Risk, Thought, Multimedia, Cryptocurrency

"We've helped thousands of DST investors find viable DST investment opportunities by utilizing our very robust online marketplace platform.

Key Points: 
  • "We've helped thousands of DST investors find viable DST investment opportunities by utilizing our very robust online marketplace platform.
  • Typically, investors can find 20-40 different DST investment opportunities available at any given time from more than 25 different sponsor companies," explained Dwight Kay, founder and CEO of Kay Properties, and architect of the online DST marketplace.
  • For investors seeking DST investment opportunities, this online marketplace has created a perfect match for all sides of the 1031 exchange and real estate investment equation.
  • Finally, investors looking for DST investment opportunities can also access Kay Properties resource library of DST property information.

Nuveen's Fourth Annual EQuilibrium Global Institutional Investor Survey: Institutional Investors Prioritize Private Alternatives, Energy Innovations and Infrastructure In New Market Regime

Retrieved on: 
Thursday, March 21, 2024
Carbon, Risk, Pulse, Private, Investment, Risk management, Government, Hydrogen, Policy, Environment, Corporation, Renewable energy

NEW YORK , March 21, 2024 /PRNewswire/ -- Many investors are significantly reformulating their approach to risk management and asset allocation as they diversify their portfolios in response to heightened geopolitical tensions, higher rates, ongoing market volatility and upcoming elections.

Key Points: 
  • First is the huge appetite for exposure to energy innovations and infrastructure projects as the energy transition plays out.
  • The second is private credit and private equity being prioritized among growing allocations to alternatives," Perry said.
  • More than half (55%) of global investors responding to Nuveen's annual EQuilibrium Global Institutional Investor Survey feel they can significantly influence the energy transition through their investments, with 57% indicating that they have or are seeking exposure to alternative energy (renewable, nuclear, hydrogen).
  • In addition, 51% are interested in allocating to new infrastructure projects, including new energy storage/grids and battery storage.

CyRisk Inc. Enhances Privacy Risk Insights Platform™ with Canadian Privacy Laws for Insurance Industry

Retrieved on: 
Monday, March 18, 2024
Organization, Legislation, Health information management, Private, Global Reach, Private sector, Disclosure, Privacy, Insurance, PIPA, Access, Enhanced, PIPEDA, Collection, Personal data, Risk management

OTTSVILLE, Pa., March 18, 2024 /PRNewswire-PRWeb/ -- CyRisk Inc., the industry leader in AI-driven privacy and cybersecurity risk analysis for insurance companies and their policyholders, is pleased to announce a significant enhancement to its flagship product, the CyRisk Privacy Risk Insights Platform™. This expansion includes the integration of Canada's current privacy laws into the platform's robust ontology and taxonomy, empowering organizations worldwide to proactively manage privacy and security risks.

Key Points: 
  • OTTSVILLE, Pa., March 18, 2024 /PRNewswire-PRWeb/ -- CyRisk Inc., the industry leader in AI-driven privacy and cybersecurity risk analysis for insurance companies and their policyholders, is pleased to announce a significant enhancement to its flagship product, the CyRisk Privacy Risk Insights Platform™.
  • CyRisk's Privacy Risk Insights Platform™ has been instrumental in helping policyholder organizations and their insurers detect, assess, and mitigate privacy and security risks.
  • Key Features of the Enhanced Platform:
    Canada's Privacy Laws: The CyRisk Privacy Risk Insights Platform™ now incorporates the intricacies of Canada's privacy landscape.
  • Holistic Risk Reduction: By seamlessly integrating privacy and security risk assessments, the platform provides a comprehensive view of an organization's risk posture.

BACCARAT HOTEL & RESIDENCES MALDIVES SET TO OPEN IN 2027

Retrieved on: 
Monday, March 18, 2024
Private, Starwood Capital Group, Hydrotherapy, Velana International Airport, Rejuvenation, Partnership, Yoga, Travel, Sale, House, HKS, Investment

"We are excited to unveil Baccarat Hotel & Residences Maldives, which fuses the timeless elegance and modern sophistication of the House of Baccarat, the legendary 260-year-old crystal brand, with the Maldives, a location that is synonymous with paradise," says Sternlicht.

Key Points: 
  • "We are excited to unveil Baccarat Hotel & Residences Maldives, which fuses the timeless elegance and modern sophistication of the House of Baccarat, the legendary 260-year-old crystal brand, with the Maldives, a location that is synonymous with paradise," says Sternlicht.
  • "Our debut in the Maldives marks an exhilarating milestone for the Baccarat brand," says Raul Leal, CEO of SH Hotels & Resorts, the parent company of Baccarat Hotels & Resorts.
  • Baccarat Hotel & Residences Maldives will be owned by Madevco Holdings Limited (ADGM) which exemplifies a commitment to building extraordinary residences that elevate lifestyles to unprecedented heights.
  • Upon opening in 2027, Baccarat Hotel & Residences Maldives will mark a new milestone in luxury hospitality, combining elegance, sophistication, and unforgettable experiences.

BACCARAT HOTEL & RESIDENCES MALDIVES SET TO OPEN IN 2027

Retrieved on: 
Monday, March 18, 2024
Private, Starwood Capital Group, Hydrotherapy, Velana International Airport, Rejuvenation, Partnership, Yoga, Travel, Sale, House, HKS, Investment

"We are excited to unveil Baccarat Hotel & Residences Maldives, which fuses the timeless elegance and modern sophistication of the House of Baccarat, the legendary 260-year-old crystal brand, with the Maldives, a location that is synonymous with paradise," says Sternlicht.

Key Points: 
  • "We are excited to unveil Baccarat Hotel & Residences Maldives, which fuses the timeless elegance and modern sophistication of the House of Baccarat, the legendary 260-year-old crystal brand, with the Maldives, a location that is synonymous with paradise," says Sternlicht.
  • "Our debut in the Maldives marks an exhilarating milestone for the Baccarat brand," says Raul Leal, CEO of SH Hotels & Resorts, the parent company of Baccarat Hotels & Resorts.
  • Baccarat Hotel & Residences Maldives will be owned by Madevco Holdings Limited (ADGM) which exemplifies a commitment to building extraordinary residences that elevate lifestyles to unprecedented heights.
  • Upon opening in 2027, Baccarat Hotel & Residences Maldives will mark a new milestone in luxury hospitality, combining elegance, sophistication, and unforgettable experiences.

LIFT ANNOUNCES MARKETED PUBLIC OFFERING

Retrieved on: 
Monday, March 18, 2024
Lithium, Income Tax Act, Public, Private, TSX Venture Exchange, Public offering, Sale, Regulation, WIRE, News, NOT, Person, Prospectus, Agent, NEWS, Security (finance)

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Key Points: 
  • /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
    VANCOUVER, BC, March 18, 2024 /CNW/ - Li-FT Power Ltd. ("LIFT" or the "Company") (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that it has commenced a marketed best efforts public offering (the "Public Offering") of up to 1,179,500 common shares of the Company that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "Flow-Through Shares") at a price of $6.05 per Flow-Through Share (the "Offering Price") for aggregate gross proceeds of up to $7,135,975.
  • The Public Offering is being conducted through a syndicate of agents led by Canaccord Genuity Corp. (collectively, the "Agents").
  • The Public Offering will be conducted pursuant to the Company's Canadian base shelf prospectus dated December 22, 2023 (the "Base Shelf Prospectus").
  • The Public Offering and the Non-Brokered Offering are subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange.

Global Passport Reader Market Sees Surge in Adoption of E-passports, Self-Service Kiosks, Mobile and Compact Readers and Growing Adoption of Cloud-based Solutions and Biometric Integration

Retrieved on: 
Wednesday, March 13, 2024
Element, RFID, Government, Public, Private, Growth, Optical character recognition, Application, KYC, Airport, Travel, Government agency, Aadhaar, Private sector, OCR, Overalls, Public sector, Compact, Border control, Security printing

The global passport reader market value stood at US$321.02 million in 2023 and is expected to reach US$501.30 million by 2029.

Key Points: 
  • The global passport reader market value stood at US$321.02 million in 2023 and is expected to reach US$501.30 million by 2029.
  • The market further thrives on the escalating numbers of international immigrants and the widespread adoption of passport readers in the banking sector.
  • The market's upward trajectory is sustained by these diverse growth drivers, reflecting a robust demand for passport reader technology worldwide.
  • The Compact Full-page Passport Reader, utilizing advanced OCR technology, efficiently extracts information from entire passport pages, contributing to global passport reader market growth by enhancing security and streamlining immigration processes.

The impact of regulatory changes on rating behaviour

Retrieved on: 
Tuesday, April 2, 2024
Długosz, Disagreement, Pi bond, Direct lending, Key, Research Papers in Economics, Finance Secretary (India), University of Oxford, STS, Journal of Economic Perspectives, International, American Economic Review, Life, Columbia Business School, British Academy of Management, Risk assessment, ABS, Rating, EBA, Development, Reputational damage, OBS, CRA, Bond credit rating, Cras, Journal of Monetary Economics, CDO, Becker, Paper, 2007–2008 financial crisis, Raja, University, Environment, Journal of Financial Economics, Perception, H3, Website, Securitization, Working paper, Market, Collection, Total, European Banking Authority, Quarterly Journal of Economics, BBB, Whetten, Column, ESMA, European Journal, Issuer, Asset quality, Information revolution, Federal Reserve Bank, OLS, Statistics, PDF, Private, ECB, Surety, Weighted-average life, CCC, European Commission, Social science, Journal of Financial Stability, JEL, Real, Bias, Journal, Research, Classification, Certification, Commission, Credit, The Journal of Finance, Literature, Karel Škréta, European Central Bank, AA, Finance Research Letters, Origination (telephony), Monetary economics, Section 5, Xia, Kraft Foods, Government, AAA, Mukherjee, Finance, Deku, DOI, White, Risk, IOSCO, MBS, OECD, Wang, Section 4, University Challenge 2013–14, Section 3, Ashcraft, Financial management, Accounting, Financial economics, Fannie Mae, Conference, Pressure, Central bank, Griffin, University of Michigan, Systematic review, EPRS, Freddie Mac, Loan, BCBS, Palgrave Macmillan, R2, Microeconomics, Quarterly Journal, Financial statement analysis, The Japanese Economic Review, Christian Social Union (UK), Green, University of Huddersfield, PSM, Management, Security (finance), Security, Civil service commission, Private placement, American Economic Journal, GFC, Reproduction, IMF, Small business, Trustee, Data

Abstract

Key Points: 
    • Abstract
      We examine rating behaviour after the introduction of new regulations regarding Credit Rating
      Agencies (CRAs) in the European securitisation market.
    • There is empirical evidence of rating catering in the securitisation market in the pre-GFC period (He et al.,
      2012; Efing and Hau, 2015).
    • Competition among
      CRAs could diminish ratings quality (Golan, Parlour, and Rajan, 2011) and promotes rating shopping by
      issuers resulting in rating inflation (Bolton et al., 2012).
    • This paper investigates the impact of the post-GFC regulatory changes in the European
      securitisation market.
    • In 2011, in addition to the creation of
      European Securities and Markets Authority (ESMA), a regulatory and supervisory body for CRAs was
      introduced.
    • We examine how rating behaviours have changed in the European securitisation market after the
      introduction of these new regulations.
    • We utilise the existence of multiple ratings and rating agreements between
      CRAs to identify the existence of rating shopping and rating catering, respectively (Griffin et al., 2013; He
      et al., 2012; 2016).
    • We find that the regulatory changes have been effective in tackling conflicts of interest between issuers
      and CRAs in the structured finance market.
    • Rating catering, which is a direct consequence of issuer and
      CRA collusion, seems to have disappeared after the introduction of these regulations.
    • There is empirical evidence of rating catering in the securitisation market in
      the pre-GFC period (He et al., 2012; Efing and Hau, 2015).
    • Competition among CRAs could diminish ratings quality (Golan, Parlour,
      and Rajan, 2011) and promotes rating shopping by issuers resulting in rating inflation (Bolton et
      al., 2012).
    • This paper investigates the impact of the post-GFC regulatory changes in the European
      securitisation market.
    • In 2011, in addition
      to the creation of European Securities and Markets Authority (ESMA), a regulatory and
      supervisory body for CRAs was introduced.
    • We find that the regulatory changes have been effective in tackling conflicts of interest
      between issuers and CRAs in the structured finance market.
    • Rating catering, which is a direct
      consequence of issuer and CRA collusion, seems to have disappeared after the introduction of
      these regulations.
    • Investors who previously demanded higher spreads for rating agreements for a
      multiple rated tranche, did not consider the effect of rating harmony as a risk in the post-GFC
      period.
    • Regarding rating shopping, we find that the effectiveness of the changes has been limited,
      potentially for two reasons.
    • Additionally, we also find that rating over-reliance might still be an issue, especially
      Rating catering is a broad term and it can involve rating shopping.
    • They re-examine the rating shopping and rating
      catering phenomena in the US market by looking at the post-crisis period between 2009 and 2013.
    • Using 622 CDO tranches, they also observe the existence of rating shopping and the diminishing
      of the rating catering.
    • Firstly, our main focus is the EU?s CRA Regulation and its effectiveness in reducing
      rating inflation and rating over-reliance.
    • To the best of our knowledge, this paper is the first to
      examine the effectiveness of the EU?s CRA regulatory changes on the investors? perception of
      rating inflation in the European ABS market.
    • Hence, the coverage and quality of our dataset constitutes significant addition
      to the literature and allows us to test the rating shopping and rating catering more authoritatively.
    • The following section reviews the literature
      on securitisation concerning CRAs and conflicts of interest, and outlines the regulatory changes
      introduced in the post-GFC period.
    • Firstly, ratings became ever more important as the Securities and
      Exchange Commission (SEC) 5 began heavily relying on CRA assessments for regulatory purposes
      (i.e.
    • the investment mandates that highlight rating agencies as the main benchmark for investment
      eligibility) (SEC, 2008; Kisgen and Strahan, 2010; Bolton et al., 2012).
    • issuers) as one of the main explanations for the rating inflation (He et al., 2011; 2012; Bolton
      et al., 2012; Efing and Hau, 2015).
    • Bolton et al., (2012) demonstrate that competition
      promotes rating shopping by issuers, leading to rating inflation.
    • The last phase, CRA III, was implemented in mid-2013 and involves an additional
      set of measures on reducing transparency and rating over-reliance.
    • As mentioned above, rating inflation can be caused by rating shopping
      In order to be eligible to use the STS classification, main parties (i.e.
    • The higher the difference in the number of ratings for a
      given ABS tranche, the greater the risk of rating shopping.
    • Alternatively, the impact of the new
      regulations could be limited when it comes to reducing rating shopping.
    • This is because, firstly,
      the conflict of interest between securitisation parties is not necessarily the sole cause for the
      occurrence of rating shopping.
    • L is a set of variables (Multiple ratings, CRA reported, Rating agreement) that
      we utilise interchangeably to capture the rating shopping and rating catering behaviour.
    • Hence, issuers are incentivised to report the highest possible rating and
      ensure each additional rating matches the desired level.
    • All in all, our results suggest that
      the new stricter regulatory measures have been effective in tackling conflicts of interest and
      reducing rating inflation caused by rating catering.
    • Self-selection might be a concern in analysing the impact of the
      new measures and investors? response with regard to the rating inflation.
    • This
      result is in line with the earlier findings suggesting that regulatory changes have reduced investors?
      suspicion of rating inflation and increased trust of CRAs.
    • Conclusion
      Several regulatory changes were introduced in Europe following the GFC aimed at tackling
      conflicts of interest between issuers and CRAs in the ABS market.
    • Utilising a sample of 12,469
      ABS issued between 1998 and 2018 in the European market, this paper examined whether these
      changes have had any impact on rating inflations caused by rating shopping and rating catering
      phenomena.
    • We find that the
      effectiveness of the changes has been more limited on rating shopping potentially for two reasons.
    • Tranche Credit Rating is the rating reported for a tranche at launch.