Kansas Senate

The Beneficient Company Group Announces Initial $15 Million Community Reinvestment to Kansas as part of the TEFFI Act

Retrieved on: 
Thursday, January 20, 2022
Commerce, United States Senate Committee on Commerce, Science, and Transportation, Kansas Senate, Legislation, Kansas Department of Commerce, House, House Committee, New York State Banking Department, Senate, Foundation, Kansas State University, Lieutenant, GLOBE, Review, Industry, KS, Rural development, Investment, Technology, Teffi, Organization, University, Financial adviser, Bank, Insurance

Ben recently received a charter from the Kansas State Bank Commissioner and the State Banking Board permitting it to commence operations as a regulated fiduciary.

Key Points: 
  • Ben recently received a charter from the Kansas State Bank Commissioner and the State Banking Board permitting it to commence operations as a regulated fiduciary.
  • That charter enables Ben to facilitate the first contribution to the state as part of the economic growth contribution program set forth in the TEFFI Act.
  • The issuance of the charter assisted Ben in expanding its operations, and, as a result, Ben was able to increase the initial community reinvestment amount from $9 million to $15 million.
  • Kansas State Representative Stephen Owens added, Our efforts working with Ben to expand the Kansas banking industry are already coming to fruition through this tremendous $15 million community reinvestment coming much more quickly than forecasted.

The Beneficient Company Group Receives Charter from Kansas State Banking Commissioner

Retrieved on: 
Monday, January 3, 2022
California Governor's Office of Emergency Services, Investment, Kansas Department of Commerce, Kansas Senate, House, GLOBE, Economic development, Secretary of State of Kansas, Trust, Organization, Teffi, Commerce, New York State Banking Department, Industry, Financial adviser

DALLAS, Jan. 03, 2022 (GLOBE NEWSWIRE) -- The Beneficient Company Group, L.P. (Ben), a leading technology-enabled financial services company serving the growing market of investors seeking regulated fiduciaries that provide liquidity, custodial and administrative services for their alternative assets, today announced the issuance of a charter from the Kansas State Banking Commissioner.

Key Points: 
  • DALLAS, Jan. 03, 2022 (GLOBE NEWSWIRE) -- The Beneficient Company Group, L.P. (Ben), a leading technology-enabled financial services company serving the growing market of investors seeking regulated fiduciaries that provide liquidity, custodial and administrative services for their alternative assets, today announced the issuance of a charter from the Kansas State Banking Commissioner.
  • In addition to being issued this charter, Ben will continue to work alongside the Kansas legislature, the Kansas Department of Commerce and the Office of the State Banking Commissioner with building the states infrastructure required under the TEFFI Act ahead of wider adoption by businesses in the alternative asset industry.
  • On behalf of Ben, I want to thank all of the Ben employees, the Kansas legislators, the Governor's Office, and the State Banking Commissioner who have worked diligently to bring us to this inflection point.
  • The Beneficient Company Group, L.P. (Ben) provides a unique suite of simple, rapid, and cost-effective liquidity solutions and other financial and fiduciary services for owners of alternative assets.