Boxers or Briefs? Watch Bryan Cranston Go All The Way With Colbert

first_img Show Closed This production ended its run on June 29, 2014 Star Files All the Way View Comments Related Shows Bryan Cranston Well, this conversation quite literally heads south rather quickly. Emmy Award winner Bryan Cranston took a break from portraying Lyndon B. Johnson in Broadway’s All The Way to discuss the play on The Colbert Report. At least, that’s how it starts before Cranston reveals the nickname of a certain body part of the late president (Johnson’s Johnson, if you will.) Take a look, and learn the answer to the age old “boxers or briefs” question for Breaking Bad’s Walter White, Malcolm in the Middle Dad Hal and Mr. President himself.last_img read more

NCUA spends $150K on RBC legal opinion

first_imgby: Nicholas BallasyThe NCUA spent $150,000 on a legal opinion for the risk-based capital proposed rule, which NAFCU said was an astronomical amount.CUNA acquired a separate legal opinion but would not reveal the cost to CU Times. “There are many questions about this legal opinion, not the least of which is cost,” Carrie Hunt, NAFCU SVP of legislative affairs and general counsel, told CU Times.She added, “If NCUA needs to go outside the agency’s expertise and spend such an astronomical amount for legal counsel and analysis, why not commit to disclosure from the outset, regardless of the outcome? NCUA should be focused on sound public policy, not trying to justify a position.” continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Committee vote expected today on CHOICE Act

first_img 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » The House Financial Services Committee is expected to vote on the Financial CHOICE Act (H.R. 10) today after it concludes its third day of mark-up. Thus far, no democratic amendments have been adopted to the bill, which is expected to pass the committee along party lines.A manager’s amendment offered by committee Chairman Jeb Hensarling, R-Texas, which retained the NAFCU-backed provision for repeal of the Durbin interchange amendment, is expected to be adopted before final passage.NAFCU will keep members apprised of today’s vote on the bill. If the bill passes, it will be sent to the full House and await action there.Throughout discussions of the bill yesterday, Democratic members of the committee raised numerous amendments aimed at stripping out various provisions of the bill, though none were approved.In addition to Durbin amendment repeal, the CHOICE Act contains numerous other NAFCU-sought measures, including one requiring regulatory agencies to improve their cost-benefit analyses and better tailor regulations to the size of regulated institutions. It would also, as urged by NAFCU, preserve the NCUA Board’s current three-member structure and mandate agency budget transparency.last_img read more

Preparing for expected surge in disputes during COVID-19

first_img continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr This guy seems annoyed.center_img The COVID-19 pandemic is affecting all sectors of the U.S. economy, which will likely result in a sharp rise in payment card chargebacks. Is your credit union prepared?In an average year, the U.S. payments industry processes 25 million payment card disputes, according to Mercator. Given that U.S. consumers conduct about 70 billion card transactions a year, the number of card disputes is typically a small fraction of those transactions (0.0357%, to be precise). Since the COVID-19 outbreak started, consumers have been making fewer transactions on non-essentials. Under normal circumstances, logic suggests that fewer transactions would result in less payment card disputes. However, things are anything but normal right now. At PSCU, we have prepared for the influx of disputes, even with 85% of our staff transitioning to work from home.Here are four reasons why credit unions can expect to see an increase (and in some categories, a dramatic increase) in disputes and resulting chargebacks.Some merchants may not be able to respond to consumers who attempt to address their dispute with them directly, as cardholders are instructed to do. Merchants may be stuck at home without access to their back-office payment systems, or are short-staffed due to quarantined employees who might normally handle customer service or order fulfillment. Many merchants have had to lay off staff, causing workloads to overflow.last_img read more

Behind the Scenes: Where Nassau’s Winners & Losers Partied on Election Night

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York By Spencer Rumsey and Rashed Mian[dropcap]A[/dropcap]s the clock struck 9 p.m. Tuesday, the Democratic Party faithful at glitzy Garden City Hotel let out an exuberant cheer.“It’s 0-0!” one Democrat supporter yelled to a group of people seated at his table, as if the hotly contested race for Nassau District Attorney, the top-of-the-ticket contest, resembled the first inning of a World Series match-up. If Mets fans were in attendance, they were surely wishing for a more favorable outcome.The extravagant hotel had opened its ballroom doors to partiers at 8 p.m. but it wasn’t until an hour later that a couple hundred blue-blooded Democrats streamed inside. While the entire county-wide Democratic ticket attended the election night party, most of their supporters were there to see acting Nassau District Attorney Madeline Singas—the novice campaigner and Kathleen Rice apprentice. Singas had stumped hard to formally get elected to the position she assumed in January following Rice’s ascension to Congress last year. But standing in her way was GOP powerhouse Kate Murray, who had served as Hempstead Town Supervisor for more than a decade and was a key cog in the mighty Republican machine that dominates Nassau politics.Polls released throughout the campaign signaled that Singas would be the underdog going into Election Day, but you wouldn’t know it at the Garden City Hotel. Drinks were flowing—martinis appeared to be the preferred conversation lubricant of the evening—and most staunch supporters were in good spirits, aside for a select few who sat glued to News12 Long Island coverage beamed from a large screen at the corner of the room.At one point, Cablevision’s news channel aired footage of Singas, prompting boisterous applause.A few minutes later, the entire crowd was awarded a better view.At about 9:15 p.m., the career prosecutor walked inside the opulent banquet hall. She wore a confident smile that belied how grueling her months-long campaign had been—a campaign, she’d admit later, that cost her precious time with her young children.If Singas was battling any nerves, her emotions did not betray her. She worked the room like a seasoned politician would, zigzagging through the crowd, embracing friends and family with appreciative hugs, graciously shaking hands with fellow Democrats, and posing for dozens of photos as the ubiquitous gaze of smartphone cameras followed her every move. She stuck around for more than a half-hour. Journey’s “Don’t Stop Believin’” echoed through the ballroom moments before her exit.Standing by risers meant for news crews documenting the election was Nassau Democratic Committee Chairman Jay Jacobs. He said he “felt good” about Singas’ chances. Maybe Democrats knew something no one else did.As reporters struggled to review election results on Nassau’s Board of Election’s archaic website, cheers rang out amid reports that Singas had a seemingly insurmountable lead.With the ballroom teeming with excitement, Singas emerged once more shortly after 11 p.m. This time she headed straight for the stage to declare herself the winner.“What a great victory!” she smiled, her family standing beside her.Throughout the campaign, Singas had touted her prosecutorial experience. Democrats criticized Murray for never prosecuting a criminal case, suggesting she was unfit to oversee such an important office.Singas repeated the theme.“I said it many times before that this election would come down to a choice,” Singas said from the podium. “Would they choose someone with the expertise and the experience, a prosecutor who could root out corruption, a prosecutor who could end the heroin scourge in our community, a prosecutor who can end violence on our streets? And today the voters responded with an overwhelming ‘yes.’”Democrat Madeline Singas won a decisive victory over Kate Murray Tuesday.Singas, who defeated Murray 58 to 42 percent, thanked her volunteers, congratulated Murray on a hard-fought campaign and pledged to root out corruption and tackle the heroin scourge. She also thanked Islanders fans, a vengeful bunch who primarily blame Murray for the Islanders’ move to Brooklyn.As she declared victory, Singas, who has been investigating Nassau’s contract process but did not mention the probe, promised to “follow the evidence without fear or favor.”“No one is above the law,” she said.Singas’ resounding victory would not be the only surprise of the evening. Shortly before midnight, Jacobs climbed back on stage and told those still on hand that he was comfortable declaring John Mangelli the victor over nine-term Republican Oyster Bay Town Supervisor John Venditto, despite 68 votes separating the two. Democrats looked at one another with shock. Mangelli was equally speechless.“I didn’t prepare a speech,” he admitted, barely able to contain his excitement.For the Nassau Republicans the election night had begun quite differently after the polls had closed.Inside Mirelle’s Restaurant on Post Avenue in Westbury, half a dozen couples were doing the tango in the Cinderella Room near the street entrance, while crowds of Republican supporters, reporters and a few elected officials were gathering in the catering hall in the back where they faced a large white board running almost the length of the stage behind the podium that showed the names of all the candidates on the Nassau ballot. Every now and then three young women dressed in black, Republican volunteers wielding magic markers, came up to write in the latest results.As the evening wore on, the mood felt like being in a big casino where time has stopped and everybody still clings to the hope they’re about to win it big. The figures for the district attorney’s race stayed stuck at 85,248 for Singas and 64,463 for Murray. The totals for Oyster Bay showed Republican Supervisor John Venditto with 5,523 votes and his Democratic challenger John Mangelli with 5,807. No figures mentioned how many precincts had been counted. Those numbers were never updated.In the packed hall, there wasn’t a TV or computer monitor in sight, just the hot lights for the News12 cameras. When word started to get out at 11:30 p.m. that Singas had already given her victory speech in Garden City, it was hard to believe based on the lack of reaction among those milling around. Asked about the latest development in the DA race, New York State Assemb. David McDonough (R-Merrick) said with a sigh, “Somebody just told me that.”Almost another 45 minutes went by before Nassau Republican Chair Joe Mondello took the stage with his procession of candidates. Conspicuously absent were GOP stalwarts such as former U.S. Sen. Alfonse D’amato and Nassau County Executive Ed Mangano. It was understandable that state Sen. Dean Skelos (R-Rockville Centre) was a no-show because he’s under federal indictment.“Thank you all for being here tonight,” Mondello told the packed hall. “It’s not as good as I would have liked it to be but we have a helluva lot of winners and I’m happy to announce them.”After he got through congratulating the victorious judges, Mondello praised Supervisor John Venditto as “a hardworking, tough guy who’s been around for a while, and he’s very, very good for the people of Oyster Bay.” Then he referred to Venditto’s race, whose numbers on the tally board still showed the incumbent trailing.“We’ve got a terrible campaign, in the sense that they’ve come at us pretty good,” Mondello said. “Not the Democrats. We don’t worry about them. We worry about Newsday because they’re the ones that came at us.” There were boos heard from the crowd as a man’s voice rang out, “You’re going to win, chairman!”Mondello expressed confidence that once the paper ballots had been counted, “they’re going to show that he’s won again.” There were cheers, but no sign of the Oyster Bay supervisor so the chairman moved on to Hempstead Town.“I can’t call him my executive assistant anymore,” he beamed. “Let’s hear it for Tony Santino!” The crowd chanted “Tony! Tony!” as the two men embraced behind the podium.Tony Santion was elected the next Hempstead Town Supervisor. (Long Island Press)Santino thanked the chairman for “giving me this great opportunity to serve the people of the biggest and the best township in America!” He praised his predecessor, who stood on stage with a smile on her face.“And let me thank a woman who made my job on the campaign trail very easy this year because she did such an outstanding job for 12 years as our town supervisor,” Santino continued. “She left this town in outstanding fiscal shape, the best services. She, from the very first day, set the gold standard for what municipal leadership is all about, and ladies and gentlemen, we ran this year on Kate Murray’s record and we won big because of that.”Next up was not Murray, but Venditto.“As crazy as it sounds, I couldn’t be happier, and you know why?” Venditto asked the audience. “Good Republican government built the town of Oyster Bay and good Republican government to this day protects and preserves the wonderful quality of life that we enjoy in the Town of Oyster Bay.”Five of his running mates had won “by very solid margins,” he explained, “so good Republican government will lead the town of Oyster Bay into the future… As far as my race is concerned, I like the action!” he said to laughter from the crowd. “We’ll see what happens. It is waaay too close to call.”Now the chairman was ready for the main event.“We were blessed with a wonderful top of the ticket,” he said. “Although I can’t be up here to tell you that she was successful in her endeavor tonight, she worked hard, and it’s hard work that helped the entire rest of the ticket that was successful tonight.”To cheers and applause so loud that it drowned out her opening lines, Murray thanked her supporters.“I will never regret this campaign, ladies and gentlemen, because of all the people that I got to know,” she said. “When you’re in a tight race, you see who your friends are, and my goodness, I never knew I had so many friends.”Standing near the podium, a middle-aged man holding a drink shouted, “We love you, Kate!” The crowd cheered and clapped.Murray started to leave but the chairman touched her sleeve so she turned around and gave him a hug. Then he took the microphone at the podium again and said, “Kate Murray, ladies and gentlemen, let’s hear it for her!”Next on his agenda, he referred to the Nassau County Legislature, where every seat was up for election.“I think it’s a Mexican stand-off,” Mondello said, “in that we kept all the seats that we had.”Then he introduced the legislature’s presiding officer, the feisty Norma Gonsalves (R-East Meadow).“This has been a campaign fought on many battlefronts,” Gonsalves said. “First it was Newsday, then social media, then Facebook, you name it, it was out there.” Despite the opposition, she reminded the crowd that “we’re still in control of the legislature.”And then she issued a warning.“We’re going to watch the DA. The so-called DA. We’re going to watch very carefully,” she said. “The next time, I’m telling you right now, they pull out all the stops, we’re going to do the same thing.”Judging from the audience response, it wasn’t clear if they matched her enthusiasm for the next round. To be fair, it was nearing 1 a.m.It was time for the chairman’s curtain call.“By and large, we had a great night,” said Mondello. “Unfortunately, we were not successful at the top of the ticket, and I want to send my congratulations to Madeline Singas on her victory. I want to congratulate Jay Jacobs on what he has accomplished with top of the ticket but the rest of it was ours!”Surprisingly, the mention of the Nassau Democratic chairman’s name drew no boos, no jeers, no cat-calls.As the party was winding down and the crowd was thinning out, one very proud parent was still on hand. U.S. Rep. Peter King (R-Seaford) was beaming because his daughter, Erin King-Sweeney, had won her first election to Hempstead town council. Asked what tip the veteran campaigner had given his offspring, King grinned and said, “‘Stay away from me!’ That’s all! I would call her 20 times a day but she ran the whole campaign.”Nassau GOP boss (left) Joe Mondello and Oyster Bay Town Supervisor John Venditto (right) are all smiles despite early results showing the longtime supervisor losing his race. (Long Island Press)He was disappointed that Murray hadn’t carried the top of the ticket but he expressed satisfaction with the overall results—his daughter’s success included.“First of all, it showed that the Republican Party is still very strong,” he said. “Obviously, there were certain issues raised. The fact is that we’ve got corruption we have to address, but it didn’t work its way down to retire the Republican Party.”If it had, he observed, then there would have been wholesale rejection of GOP candidates, from judgeships to townships.“If anything, the voters were sending a message that they want to be Republican—they support Republican principles—but we’ve got to straighten some stuff out,” he said. He thought that in this election cycle, “Kate got caught up in all this. She was just in the wrong place at the wrong time.”Without mentioning the ongoing federal corruption charges facing Skelos—whose trial is about to begin—the Congressman alluded to “all the allegations out there, whether they’re valid or not, they’re out there, and a Republican running for DA, that was hard. The issue was: Can a candidate investigate their own? And I have no doubt she could.” On the other hand, he said, “The voters probably had to take it out on somebody, for whatever reason, and Kate was the one. I still think she ran a very good race.”In the closing weeks of the campaign, Murray was endorsed by former New York City Mayor Rudolph Giuliani, himself a former U.S. Attorney for the Southern District of New York, where his successor, Preet Bharara, launched corruption probes against Skelos and state Assemb. Sheldon Silver (D-Manhattan), the former Assembly speaker, whose trial started on Election Day. Giuliani had drawn the ire of the New York Daily News editorial board for supporting the Republican candidate for Staten Island, Joan Illuzzi, because she had prosecutorial experience compared to her Democratic challenger, former Rep. Michael McMahon, who had none (he ultimately won), and reversing himself in Nassau by supporting Murray, who’s never been a prosecutor, while Singas has been one for 24 years.“Rudy definitely felt that Kate had the better philosophy towards fighting crime,” King explained.Earlier in the evening, Chairman Mondello had told the Press that Murray had benefited from having Giuliani’s endorsement, which he’d helped bring about. Back when he was state GOP chairman and Giuliani was running for president, they’d traveled together through New York and become “pretty close.”“I couldn’t tell you the amount of points, but it’s without question that he helped Kate,” Mondello said. “I felt that the tide had to be stemmed… His coming out here and his commercial that he made with Kate stemmed the tide.”Talking about Murray, he said, “I’ve known her since she was a little girl. Her father and I were very close.” Picking her to run for district attorney was easy, he said. “She’s bright as hell…she connects with people. People like her. She started this campaign very gently, if you recall. Then she got attacked pretty good. I told her that you have to fight fire with fire in this world. It didn’t take right away…but she understood that it had to be done.”Later on stage, after it was clear to all that Murray had lost, Mondello told the assembled throng, “All I can say is that it hurts that she’s not going to be the district attorney but she’s got a great future with the Republican Party, and don’t you ever forget it!”,Alure cube,Alure cubelast_img read more

Unatego School District holds milk giveaway

first_imgThey will be giving it away from 11 a.m. until the supplies run out. (WBNG)- The Unatego School District will be giving away free milk on Thursday. All of the milk donations are from Saputo Dairy in Delhi.center_img In a Facebook post, they say they will be giving away free half gallons of milk at all three of their schools including the Unadilla Elementary School, the Unatego Middle/High School and the Otego Elementary School parking lots.last_img

India, South Korea, China report H5N1 outbreaks

first_imgApr 7, 2008 (CIDRAP News) – Veterinary officials in India recently confirmed that the H5N1 avian influenza virus has struck poultry in a second state, Tripura, as animal health authorities in South Korea announced a new outbreak at a duck farm near where the virus was confirmed a few days ago after a year’s hiatus.Asim Roy Burman, a senior state veterinary official in India, said several hundred birds in Tripura died over the past few days and tests revealed they had the H5N1 virus, according to an Associated Press (AP) report today. He said health officials are preparing to slaughter birds and have banned poultry imports from Bangladesh, which has reported extensive outbreaks over the past several months. Nearly all of Tripura state, located in the far northeastern section of India, borders eastern Bangladesh.West Bengal state, in eastern India on Bangladesh’s western border, has battled two waves of H5N1 outbreaks in poultry since January. Yesterday, veterinary officials began culling chickens in the state’s Nadia district, where 400 birds have recently died from H5N1 infections, The Hindu, one of India’s national newspapers, reported today. Nadia is the fourth district in West Bengal state to report H5N1 outbreaks over the past 5 weeks, according to The Hindu.West Bengal’s Animal Resources Development Department announced on Apr 5 that samples from the Nadia birds were positive for H5N1, according to The Hindu.”We are a little surprised that the deaths occurred in places beyond a 10-km radius of those areas to have been affected by avian flu on the earlier occasion,” Omkar Singh Meena, district magistrate, told The Hindu. He said authorities would plan on culling 21,000 birds over the next 3 days.In South Korea, health officials confirmed that the H5N1 virus has hit a duck farm in the southwestern part of the country in North Jeolla province, only about 17 miles from the site of a recent poultry outbreak that marked the disease’s first return to the country in about a year, according to another AP report today.Lim Kyung-hwan, a quarantine official with the provincial government, told the AP that authorities have culled 6,500 ducks at the farm, located in Jeongeup, and have banned poultry movement within 10 km of the site.On Apr 4 agriculture officials confirmed an H5N1 outbreak at a large egg producer in Gimje, also in North Jeolla province, about 162 miles south of Seoul, according to previous reports. The outbreak was South Korea’s first since March 2007.In other developments, agriculture officials in China today confirmed an H5N1 outbreak at a poultry farm in Tibet, according to Xinhua, China’s state news agency. The samples were taken from 268 chickens that died on a farm in Zhuba village, the report said.Tibet officials reported the outbreak to China’s agriculture ministry on Apr 4, according to media reports. Ministry officials said the outbreak had been contained but gave no other details, Agence France-Presse reported today.The outbreak is Tibet’s third this year, according to previous reports from the World Organization for Animal Health (OIE). One occurred at a broiler-hen and duck farm in Gongga in late January, and the other struck birds at a village in Lhasa in early February.See also:OIE reports on 2008 Chinese H5N1 outbreakslast_img read more

Tax Administration in the action of intensified supervision of fiscalization

first_imgFind out more details in the Guide for caterers and providers of catering and tourism services and for the users of these services, which is attached. With the aim of raising the quality of business of caterers and providers of catering and tourism services, as well as reducing the number of violations in the business of legal and natural persons whose business is controlled by the Tourist Inspectorate, a guide for caterers and providers of catering and tourism services. The guide also points out the rights of users of catering and tourism services. Therefore, in order to prevent the gray economy, protect the state budget and taxpayers who duly meet their tax obligations, authorized officials of the Ministry of Finance of the Tax and Customs Administration will conduct intensified fiscalization controls throughout the Republic of Croatia in the period from 17. – 20.9.2020. years. Otherwise, from April 1, 2019, with the entry into force of the Law on the State Inspectorate (NN 115/18) The Tourist Inspectorate operates within the central state office – the State Inspectorate, ie all inspections in tourism are united. All those who adhere to all regulations and the Law do not have to fear inspections, on the contrary, they should support the action, because the black market is destroying, harming everyone, both the State and caterers who issue all invoices because unfair competition is created. Through the conducted risk analyzes and procedures for monitoring the issuance and fiscalization of invoices, it was noticed that there is a significant number of taxpayers who either do not issue invoices or do not fiscalize the issued invoices, committing the most serious tax violations, the Tax Administration points out. Application of the principle of opportunitycenter_img The Act on the Provision of Services in Tourism (Official Gazette, No. 130/17) and the Act on Amendments to the Hospitality Activity Act (Official Gazette, No. 99/18) enacted major innovations in terms of tourist authorization. inspectors, as the application of the principle of opportunity is introduced. Supervisions of fiscalization will be performed by inspecting the business premises of taxpayers, checking the issuance of invoices in real time via mobile devices and other supervisory activities, according to the Tax Administration. Side dish: A guide for caterers and providers of catering and tourism services and for users of these services The principle of opportunity is the possibility that minor offenses can be given a warning, with a time limit to correct irregularities, rather than imposing fines immediately. BUSINESS CONDITIONS SUPERVISED BY THE TOURIST INSPECTION AND THE PRINCIPLE OF OPPORTUNITYlast_img read more

Why William Saliba was left out of Arsenal squad against Fulham

first_imgAdvertisement Comment Coral BarrySaturday 12 Sep 2020 12:50 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Arsenal fans were hoping Saliba would make his debut (Picture: Getty)William Saliba was left out of the squad that took on Fulham because Mikel Arteta is keen to ease the defender into the first-team set-up.The 19-year-old linked up with the Arsenal senior team for the first time this summer having spent last season on loan at St Etienne.Arsenal fans were expecting to see Saliba at least make the bench for their Premier League opener against Fulham on Saturday after David Luiz was ruled out of the game with an injury.Summer signings Willian and Gabriel were included and were handed their debuts by Arteta, but there was no room for Saliba on the bench.AdvertisementAdvertisementADVERTISEMENTAfter the team news was revealed, Goal reported Saliba was not injured and instead was just being eased into the team.Saliba has only ever played in France, but is considered a massive talent by the Arsenal hierarchy who forked £27million to sign the centre-back last year.Gabriel, 22, beat Saliba to the starting place against Fulham and Arteta confirmed he felt the Brazilian had to play. 📋 Team news for our first @PremierLeague game of the season…🇧🇷 @biel_m04 makes his first start🇬🇧 @RobHolding95 and @KieranTierney1 both in defence🇧🇷 There’s also a debut for @WillianBorges88#️⃣ #FULARS— Arsenal (@Arsenal) September 12, 2020MORE: Dani Ceballos squares up to Arsenal teammate Eddie Nketiah during heated pre-match warm upMORE: Emiliano Martinez’s agent explains why the Arsenal star is looking to leaveFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram. For more stories like this, check our sport page. He said: ‘Everyone says we have a lot of centre-backs. But we have a lot of issues in recent weeks. ‘He needs to start today. He’s been preparing really well. Hopefully he will be fine.’Arteta’s first team of the season had a few surprises including the inclusion of Mohamed Elneny.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityThe Egyptian spent last term out on loan at Besiktas and was considered a nailed on departure from the club, but appears to have been handed a lifeline by Arteta.Mesut Ozil was also omitted from the squad despite the fact the German playmaker is believed to be fully fit. As I say in this, no injury for Saliba. He trained yesterday. Arteta easing him in.— Charles Watts (@charles_watts) September 12, 2020 Advertisement Why William Saliba was left out of Arsenal squad against Fulhamlast_img read more

Authorisation regime slashes size of UK master trust market

first_imgSource: TPR. Figures correct as at 5 November 2019Nicola Parish, executive director of frontline regulation at TPR, said the number of schemes leaving the market “shows that these laws are demanding – and rightly so.“The 37 authorised master trust schemes will continue to be closely supervised by us to make sure they continue to operate within the law.”Due diligence ramps upThe regulator said authorisation had resulted in many improvements to the schemes, including “a major shift” in the level of financial due diligence applied by DC trustees. In a number of instances, trustees took covenant advice on the corporate entities sitting behind master trusts, it noted.TPR also said its engagement with schemes during the authorisation process led to the total amount of financial reserves held by the schemes increasing by £93m. The reserves cover the costs of winding up a scheme and protecting members’ pension pots.“Because of authorisation, the quality of master trust products and providers has improved; therefore increasing protection for members,” said TPR.“The authorisation of master trusts offers a route for consolidating DC schemes, and the reduction in the size of the market by 53 schemes is evidence of the high bar for authorisation.” The regulator’s starting figure of 90 includes several schemes that decided to leave the market after it ran a pre-authorisation voluntary application process, as well as schemes that legal advice ultimately showed did not meet the definition of a master trust in legislation: a trust-based occupational defined contribution (DC) scheme that is used by two or more unconnected employers.TPR said 11 schemes have exited the master trust market so far, and a further 36 have notified it of “a triggering event to exit the market” and will transfer their members to an alternative master trust scheme or other appropriate vehicle.The 37 authorised schemes have more than £36bn (€41bn) in assets under management between them, 16 million memberships, and total financial reserves of £524m.Master trust application and authorisation figures The number of master trusts in the UK has more than halved following the introduction of authorisation requirements, the country’s pensions regulator announced yesterday.Under a new law brought in 2017, master trusts in the UK have to meet new standards or close, with The Pensions Regulator (TPR) opening an authorisation process for existing entities in October last year. The main deadline to apply for authorisation was 31 March 2019, although schemes could request a six-week extension.Yesterday the regulator announced that the final schemes had been authorised – Salvus Master Trust and FCA Pension Plan – and that the market had shrunk from 90 master trusts from before the authorisation process to 37; 38 schemes applied for authorisation but SuperTrust UK this week announced it was withdrawing from the market.One new master trust has submitted an application for approval, which TPR is currently assessing.last_img read more