Banker turned bailiff?

Kit Winder | 03 Sep 2020  This could snare your cash…   Dear Reader,   Did you know Hackers hired by the CIA and other government agencies could be making up to $150,000 per year?   In fact, some of the world's top cybersecurity hackers are now being paid millions to test the vulnerabilities of companies.   It reminds me of the phrase poacher turned gamekeeper…   In other words, someone whose behaviour is the opposite of what it used to be.   Alarmingly what if that happened with banks?   Traditionally they've been the place to keep your money safe.   But what if banks could take your money?   If banks became bailiffs…   … and could – in effect - 'impound' your cash?   This isn't idle thinking or conspiracy chat.   In extreme circumstances…   (Bear in mind the Bank of England has forecast the coronavirus crisis will push the UK economy into its deepest recession in 300 years.)   Something called the Special Resolution Regime will allow them to do just that.   It's not a secret society… it's actually a law…   One that was passed after the financial crisis of 2008.   I think you owe it to yourself to find out more.   Luckily, my colleague Nickolai Hubble, can help you out.   He's the Chief Investment Strategist here at Southbank Investment Research.   And here he outlines six steps you'd be wise to check out…   Best,    Kit Winder Editor, Southbank Investment Research

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