FCA launches competition study of UK asset management industry

first_imgIt will soon be approaching market participants for information and data to look into the above areas, in addition to hosting roundtables and meetings.The FCA is launching the study because it wants to ensure competition is working properly in what is such a vital sector to the UK economy.The wholesale sector competition review, which it carried out last year, flagged up a number of areas where competition was not working effectively.The UK’s £6.6trn (€9.4trn) asset management market – the largest in Europe – covers around £2.1trn of pension fund investments, and £1trn each of insurance products and non-mainstream asset management products, both of which include pension fund investments.A further £400bn is invested by charities and the public sector.The FCA believes that, given the size of the market and the long-term nature of investments, even a small improvement in the effectiveness of competition could be of substantial benefit for investors.Christopher Woolard, director of strategy and competition at the FCA, said: “Asset managers provide an important economic function, bringing together those with money to invest and companies and governments that need capital. Given the significant role they play in the economy, it is essential that competition work effectively for these services.”He added: “Our market study aims to ensure both retail and institutional investors can get value for money when purchasing these services – which we expect to further strengthen the UK’s position as a major centre for asset management.”The study will be carried out over the next year.Interim findings are expected to be published in summer 2016 and will indicate any areas of concern, with an explanation of what they are and how the FCA proposes to address them.The FCA will also set out any areas where few or no problems have been found.The final report should be published by early 2017. The Financial Conduct Authority (FCA) has set out the terms for reference for its market study into competition in the UK asset management industry.  The study was first signalled in March this year when the FCA published its 2015-16 business plan.The study, to include both retail and institutional investors, will assess how asset managers compete to deliver value; whether asset managers are motivated and able to control costs along the value chain; and what effect investment consultants have on competition for institutional asset management.In addition, the FCA will look at whether there are any barriers to innovation and/or technological advances in asset management.last_img read more

Dead sharks wash up on Delray Beach

first_imgBeachgoers in Delray Beach were met with an unsettling surprise after a pair of dead sharks washed ashore, Tuesday morning.The sharks were reportedly spotted near the shoreline on the north end of Delray Beach.One of the sharks appeared to be a baby while the other one was said to be full grown.The sharks did not wash-up together as the baby was reportedly more decomposed than the other.The Ocean Rescue division of the Delray Beach Fire Department said crews were dispatched to remove the dead sharks.“Ocean Rescue officials said if you see dead sharks along the beach, call the agency right away at 561-243-7352.”last_img

Update on the latest in sports:

first_img— FIFA wants to let soccer teams use five substitutes to cope with expected schedule congestion caused by the coronavirus pandemic. FIFA says the temporary plan could help prevent more injuries due to “potential player overload” as soccer competitions catch up with a backlog. The proposal gives competition organizers the option of letting teams use five substitutes in 90 minutes and a sixth in knockout games that go to extra time. FIFA says the rule could be used by all competitions finishing this year and next and all national team games through 2021.— Formula One chairman Chase Carey says he is “increasingly confident” the season can start in July despite the first 10 races being canceled or postponed because of the coronavirus pandemic. The French Grand Prix decided to call off its race on June 28 rather than postponing it. That means the earliest start date is now the Austrian GP on July 5. F1 plans to start racing in Europe “through July, August and beginning of September, with the first race taking place in Austria.” Carey expects the early races to be without fans but hopes they “will be part of our events as we move further into the schedule.”,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 — The New York Giants have agreed to contract terms with 15 players who were not taken in the NFL draft this weekend. Among the players who reached agreements were two Ohio State receivers, Austin Mack and Binjimen Victor.— The Minnesota Vikings have agreed to terms on contracts with 12 college free agents. That’s after the record haul of 15 draft picks they made over the weekend. Texas A&M wide receiver Quartney Davis was one of the priorities, as one of the top-rated undrafted prospects. The 6-foot-1, 201-pound Davis skipped his final season with Texas A&M to turn pro. He had 616 yards and four touchdowns in 11 games for the Aggies in 2019.— Each of the NFC East teams will carry an international player on its practice squad in the upcoming season. As part of its developmental program, the NFL has assigned Mexico’s Isaac Alarcon to Dallas, Germany’s David Bada to Washington, Australia’s Matt Leo to Philadelphia, and Austria’s Sandro Platzgummer to the New York Giants. The division was chosen as part of a random draw.NHL NEWSBlackhawks fire team president McDonough in surprising move Associated Press Update on the latest in sports: — The Cleveland Browns have exercised the fifth-year contract options on star defensive end Myles Garrett and tight end David Njoku. The decision on Garrett was no surprise. He was the No. 1 overall pick in the 2017 draft. He’s developed into one of the NFL’s premiere pass rushers and was on his way to another big season in 2019 before he was suspended for striking Pittsburgh Steelers quarterback Mason Rudolph in the head with a helmet. Njoku missed 10 games last season after breaking his wrist.— The Washington Redskins have exercised the fifth-year option on defensive lineman Jonathan Allen’s rookie contract. The team announced the expected move in the aftermath of the NFL draft. Allen was Washington’s first-round pick in 2017 and has started 36 games. The Alabama product has 139 tackles and 15 sacks so far as a pro. He was voted defensive captain in his third season and has emerged as one of the Redskins’ leaders in his mid-20s.— Patriots fullback James Develin is retiring from the NFL because of complications from the neck injury that caused him to miss the final 14 games of last season. He announced his decision in an Instagram message. The 31-year-old has been a staple of both New England’s offense and special teams since joining the team in 2012. He was selected to his first Pro Bowl in 2017 as a fullback. — The Atlanta Falcons have added more help on offense in reaching agreements with 20 college free agents. The Falcons focused on defense in the NFL draft. Among the college free agents who agreed to terms were three wide receivers, two tight ends, one fullback and five offensive linemen. Jalen McCleskey of Tulane, Chris Rowland of Tennessee State and Juwan Green of Albany are the three wide receivers in the group. The Falcons also reached deals with tight ends Jared Pinkney of Vanderbilt and Caleb Repp of Utah State.— The Jacksonville Jaguars have agreed to terms with 18 undrafted free agents. The list includes running backs James Robinson and Tavien Feaster. Robinson or Feaster should have a decent shot at making the team’s 53-man roster because Jacksonville didn’t address the position in free agency or the NFL draft. Robinson ran for 4,444 yards and 44 touchdowns during four seasons at Illinois State. Feaster played three years at Clemson before transferring to South Carolina. He was the Gamecocks’ leading rusher last year, finishing with 572 yards and five touchdowns on the ground. SPORTS-VIRUS OUTBREAKGolf to resume in Washington StateUNDATED (AP) — Washington Gov. Jay Inslee has announced that golf can resume in the state beginning May 5.The announcement on Monday was part of a partial resumption of outdoor activities that includes fishing, hunting and use of state parks and state lands for day trips.Inslee said that the Golf Alliance of Washington has established several rules, including spacing out of tee times, limits on the number of people playing golf together, and allowing take-away food and beverage service only. UNDATED (AP) — The new Texas Rangers ballpark is among possible venues Major League Baseball could use if it decides to start the season with groups of teams in different areas.Among the different plans looked at by Major League Baseball is to use Texas as a mid-American hub.Having all 30 teams based in Phoenix has been examined. So has having groups of teams in Arizona, Texas and Florida.All of those areas have climate-controlled MLB stadiums, and other nearby ballparks. The Rangers still haven’t played a game in their new stadium with a retractable roof.NFL NEWS Inslee said that if the state sees an uptick in infections of the new coronavirus, or if people don’t continue to take safety measures while recreating, the activities could again be restricted. Public gatherings and events, team sports and camping are all still prohibited under the current stay-at-home order that has been in place since March 23.In other coronavirus-related sports developments:— The head of Japan’s medical association thinks it will be difficult to hold the Olympics without an effective coronavirus vaccine. Japan and the International Olympic Committee agreed to postpone the Tokyo 2020 Summer Games until July next year due to the global pandemic. Japan is under a monthlong state of emergency amid a rapid increase of infections throughout the country, where hospitals are overburdened. Japan Medical Association President Yoshitake Yokokura says even if infections are under control in Japan by next summer, it would still be hard to stage the games unless the pandemic is over in the rest of the world. Experts have said it could take 12-18 months or longer to develop a vaccine that is safe and effective for clinical use. — The American Hockey League is “quite likely” to cancel the rest of its season because of the new coronavirus pandemic. That’s according to a person with direct knowledge of league discussions who commented anonymously because the person was not authorized to discuss the plans of the NHL’s top minor league. The AHL responded by saying there’s “nothing imminent” in terms of calling off the remainder of the season. Last week, AHL President and CEO David Andrews said the league was “pivoting” to the 2020-21 season but added nothing was official.— Arsenal has reopened part of its training ground for players to run alone as the English Premier League accelerates planning for “Project Restart” with the British government. It comes amid increased scrutiny of Downing Street downplaying the potential for sports to exacerbate the coronavirus outbreak seven weeks ago. It took Arsenal manager Mikel Arteta and Chelsea player Callum Hudson-Odoi testing positive for COVID-19 on March 12 for the league to be suspended. Now the decision to allow sports to restart will be informed by experts who said there was “no rationale” to closing them down in the first place. UNDATED (AP) — The Chicago Blackhawks have fired team president John McDonough, ending a wildly successful run that included three Stanley Cup championships.The surprising move comes with the NHL season on pause because of the coronavirus pandemic. And it raises questions about the direction of one of the league’s marquee franchises. McDonough had been supportive of general manager Stan Bowman despite three straight seasons of lackluster results.Owner Rocky Wirtz says it was a difficult move, but he thinks it’s the “right decision.” The owner’s 43-year-old son Danny Wirtz is replacing McDonough on an interim basis. Danny Wirtz is a vice president with the team.In other NHL news:— Longtime NHL forward Joel Ward has retired. The 39-year-old Ward last played in the NHL in 2018 for the San Jose Sharks. He went to training camp with Montreal the following season but was unable to get another shot. Ward started his career with Minnesota and also played for Nashville and Washington in his 11-year career.center_img April 27, 2020 MIAMI (AP) — The NBA has pushed back plans that would allow teams to reopen their practice facilities for at least one week.The NBA had decided over the weekend to have teams open their gyms for voluntary player workouts on Friday, if local and state laws made such a move permissible. But on Monday the league revised that potential opening date until May 8, at the earliest.The NBA says the May 8 date is far from firm, warning teams that it “may push this timing back if developments warrant.” VIRUS OUTBREAK-BASEBALLNew Rangers park among possible MLB ideas for season start — Clemson has canceled all of its in-person, on-campus athletic and academic camps due to the coronavirus pandemic and will remain closed until May 8. The cancellations include two weeks of coach Dabo Swinney’s football camps, which have been popular stops for young people eager to gain instruction and contacts with Clemson coaches in all sports. Swinney and his staff have done well in attracting some of the nation’s top players.— There won’t be any sun or sand for beach volleyball pros amid the coronavirus pandemic. The AVP tour has created a public service announcement to urge its fans to stay home to help fight the spread of the disease. Olympic medalists April Ross and Todd Rogers and a handful of the tour’s other stars recorded videos at home that were assembled for the spot that debuted on Monday.— The title sponsor of New Orleans’ canceled PGA Tour event is donating $1.5 million to the tournament’s primary charitable foundation. The donation matches the amount raised during the 2019 Zurich Classic, which was played in a team format and won by the tandem of Ryan Palmer and Jon Rahm. For more than six decades, the New Orleans-area PGA Tour event’s primary charity has been The Fore!Kids Foundation, which raises money through golf events and distributes funds to area children’s service organizations.— USA Swimming has announced its plans for a return to competition, beginning with a series of regional events in August before the national schedule begins in early November at Richmond, Virginia. The governing body is canceling all national events in July and early August because of the coronavirus pandemic. The regional events will be held in August, with an eye toward limiting the need for travel and promoting a safer environment for athletes, coaches, officials and families.— UEFA is paying $255 million in advance to its national federations and easing requirements on how they spend it during the pandemic. UEFA president Aleksander Ceferin says the money “can be used as our members see fit to rebuild the football community.” Ceferin says “this is a responsible decision to help as much as we can.” The Lakers applied for the loan under the Small Business Administration’s Paycheck Protection Program, and they received it in the first round of distribution.The team returned its loan after the fund ran out of money in less than two weeks. So did several wealthier business that had applied for the funds, including Shake Shack and AutoNation.The Lakers qualified for the program because they have only about 300 employees. But the team is thought to be the NBA’s second-most valuable franchise, with Forbes estimating a value of $4.4 billion.VIRUS OUTBREAK-NBA FACILITIESNBA pushes plan to reopen facilities until May 8 at earliest McVay’s Rams begin virtual learning in unusual NFL offseasonUNDATED (AP) — Los Angeles Rams coach Sean McVay has big plans for an offseason of virtual learning for his players.The Rams will hold four 90-minute virtual sessions of teaching per week, learning their new assignments and schemes on computers and tablets instead of the grass. McVay will spice up the sessions with guest speakers, including Clippers coach Doc Rivers and hopefully Dodgers manager Dave Roberts.The Rams have plenty of work to do during the offseason although they finished 9-7 last year for their third straight winning season under McVay. Along with several major roster changes, McVay hired a new offensive coordinator, defensive coordinator and special teams coordinator.Elsewhere around the NFL: NASCARAll eyes on NASCAR as it races toward restartCHARLOTTE, N.C. (AP) — NASCAR is racing toward a restart that could come as early as mid-May.The stock car series is trying to put together a schedule that allows it to race in states that have started re-opening without spectators. The series is working on safety protocols that other racing leagues will be watching.Teams could be back at work in North Carolina race shops by the end of the week when local stay-at-home orders expire.  Share This StoryFacebookTwitteremailPrintLinkedinRedditLAKERS-CORONAVIRUS LOANLakers return $4.6 million from stimulus loan programLOS ANGELES (AP) — The Los Angeles Lakers have repaid a loan of roughly $4.6 million from a coronavirus relief program after learning the program’s funds had been depleted.last_img read more

Kobe Bryant calls looking at future after basketball ‘scary as hell,’ shares life in new documentary

first_imgThe unexpected time off last season forced Bryant to think about his post-basketball future.“I’m afraid, too,” he said Friday at the summer TV critics’ meeting. “You really have to lean on muses and mentors going forward, just as I did as a kid. It’s about having that next wave of things, which is scary as hell, but it’s fun at the same time.”Bryant said this film is different than the 2009 ESPN documentary “Kobe Doin’ Work,” directed by Spike Lee. The new film includes Magic Johnson and former Lakers coach and current Knicks president Phil Jackson.“It’s more introspective,” he said. “It’s about who or what has inspired me.”Bryant is credited as an executive producer on the Showtime film, a vanity credit only. “I’m not even quite sure what it is they do,” he said.He arrived 30 minutes late for his session with critics.“I was out looking for a head coach,” he said, joking.The Lakers remain without a coach, and big man Pau Gasol recently chose to leave for Chicago as a free agent. The team failed in its bid to land Carmelo Anthony, too.“We’re still trying to figure the roster out,” Bryant said. “We don’t know what system we’re going to be operating out of. A lot of those questions remain to be answered.”Bryant reaffirmed he was “very happy” with the effort the Lakers made in trying to land Anthony and retain Gasol. He indicated approval of general manager Mitch Kupchak’s recent signings of complementary players.“It’s my job to go out there next season and lay it all out there on the line and get us to that elite level,” he said. Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img BEVERLY HILLS, Calif. — Kobe Bryant says he’s “scared” about his future after basketball, although he’s embracing the challenge of finding something that he can be as passionate about as sports.Bryant turns 36 next month and is under contract with the Los Angeles Lakers for two more years. He was limited to just six games last season because of two major leg injuries, leaving him with the kind of idle time he never had before in his career.Bryant gives a peek into his life in a Showtime documentary airing in November. “Kobe Bryant’s Muse” covers much of last season, when Bryant was sidelined and the Lakers finished 27-55, the most losses in club history.“It’s a fascinating time to be around this guy,” said Gotham Chopra, who directed the film. “There’s this sort of looking forward to life after basketball. This is a guy that’s asking a lot of questions.”last_img read more

South Sound Estuary Association Seeks Volunteers for Meet the Beach

first_imgFacebook11Tweet0Pin0Submitted by South Sound Estuary AssociationThe Estuarium, based in downtown Olympia, is recruiting volunteers for our 2017 Meet the Beach program. Meet the Beach provides natural interpretation to the general public and to K-12 groups at local beaches during summer low tide days. We are looking for volunteers who love the beach as much as we do and who want to inspire the community to explore and discover Puget Sound’s intertidal life and habitats.Starting in April, we will be providing six training sessions, free of charge. No existing knowledge or experience is required. We will teach volunteers everything they need to know. As part of this program, new volunteers will need to submit a background check. Volunteers are encouraged to contribute at least 15 hours of service during the season and become an Estuarium member.The South Sound Estuary Association is recruiting naturalists for the Meet the Beach program. Photo courtesy: South Sound Estuary Association.The Meet the Beach volunteer training is led by professional scientists and experts. The 2017 classroom and beach training dates are:Thursday, April 13, 6:00 PM- 9:00 PMThursday, April 20, 6:00 PM- 9:00 PMSunday, April 30, 2:00 PM- 5:00 PM at Tolmie BeachThursday, May 4, 6:00 PM- 9:00 PMThursday, May 11, 6:00 PM- 9:00 PMSaturday, May 13, 12:30 PM- 3:30 PM at Burfoot BeachVolunteers can apply for the Meet the Beach Program by filling out an online application at https://www.volgistics.com/ex/portal.dll/ap?ap=1682072780 or contacting Susan Shelton at [email protected] more information about Meet the Beach, visit our website or contact Susan Shelton at [email protected] Sound Estuary Association’s (SSEA’s) mission is to foster learning opportunities that inspire people of all ages to connect with, protect, and enjoy the unique estuary environment of south Puget Sound. Our motto is to “Explore · Connect · Inspire!” Our programs include: Estuarium; Meet the Beach; K-12 Education; Pier Peer; and Connecting the Community. We create opportunities for the public to learn about estuaries, geology, natural and cultural history, marine life, and human impact on the Puget Sound.last_img read more

Connected cars driving consolidation in chip sector

first_imgRelated Posts IT Trends of the Future That Are Worth Paying A… For Self-Driving Systems, Infrastructure and In… The world’s largest car chipmaker, NXP Semiconductor, expects self-driving cars and connected devices will drive a wave of consolidation in the microprocessor sector.Euronews recently discussed an accelerating consolidation trend currently underway in the chip manufacturing market.A pivotal tie-up in the sector was Qualcomm’s $38 billion acquisition of NXP last week.Much of the business case behind Qualcomm’s purchase was NXP’s position as the world’s largest chip maker for the automotive industry. And the NXP deal won’t likely be the last car-related merger in the near future.The chip sector consolidation is being fueled by the projected growth in autonomous vehicle technology and the Internet of Things (IoT). These technology darlings are replacing smartphones as drivers of growth, as phone sales growth continues to flatten.Automotive has been driving M&A and will be the force behind M&A in the chip sector for some time,” said NXP’s general manager, Automotive, Kurt Sievers. “Maybe in a broader perspective, all things connected to the internet.”New fleet driving concept?As a demonstration of its involvement in self-driving vehicle innovation, NXP recently demonstrated a new fleet management concept called platooning. This is where radar chips allow a number of trucks to drive in a row, with the first truck driven by a human, while the subsequent vehicles follow behind semi-autonomously.The advantage of platooning is to increase both the safety and energy efficiency of truck-based transport. And the ability to boost energy efficiency is one advantage NXP’s chip technology brings to Qualcomm, particularly in light of the projected jump in autonomous vehicles seen in the near future.In the coming years the amount of chips that are used in cars will double…which enables assisted driving and includes chips that manage power consumption, as we are moving forward to autonomous driving,” said Sievers.The opportunities in automotive are projected to be huge, with the growing semiconductor content in cars expected to be larger than production of vehicles themselves. 5 Ways IoT can Help to Reduce Automatic Vehicle…center_img Donal Power Break the Mold with Real-World Logistics AI and… Tags:#Internet of Things#IoT#microprocessors#NXP#Qualcomm#self-driving cars last_img read more

NCW pulls up Tripura police

first_imgThe National Commission for Women (NCW) has sought a ‘progress report’ from the Tripura police on the investigation into rape, molestation and murder of women in the State. It expressed serious concern over the ‘spate of outrageous incidents against women’. “I have told the DGP to send a detailed report within a reasonable time, failing which we would summon them before the Commission,” NCW member Sushma Sahu told newsmen in Agartala on Tuesday.last_img

Port Esbjerg to Expand with New MultiTerminal

first_imgzoomIllustration; Source: Pexels under CC0 Creative Commons license Denmark’s port of Esbjerg is to expand its eastern port area as it plans to construct a new, 40,000-m2 multi-terminal in response to increased demand.The new terminal is expected to be completed by the end of the year, the port said, adding that it can see increasing demand for areas with access to quays and cranes.The new multi-terminal would be set up west of the existing multi-terminals in the eastern port. It would have direct access to the three ramps already established at the quay, the port informed.“We can see increased demand for sites for the storage and shipping-out of cargo, cars and, containers, as well as components for the wind turbine industry. The new terminal is intended to meet that demand, giving our customers the best possible conditions for running and developing their business,” Dennis Jul Pedersen, Port Director at Port Esbjerg, said.The costs of establishing the terminal are expected to run to a total investment of around DKK 15 million (USD 2.26 million).An invitation to tender for the construction of the new terminal will be announced during the new few weeks.The terminal is expected to be completed in November 2019 and will be located adjacent to the two existing multi-terminals at the port, which are operated by Blue Water Shipping and Scandinavian Auto Logistics.In 2018, Port Esbjerg handled 4.4 million tonnes of cargo, as a hub for RoRo traffic, with six fixed liner services and connections to more than 25 ports.last_img read more

The Ministry of Border Control and Employment Improves Passport Application Process

first_imgFacebook Twitter Google+LinkedInPinterestWhatsAppTurks nd Caicos, June 15, 2017 – Providenciales – The Ministry of Border Control and Employment recently undertook a review of the passport process in light of the numerous complaints from the public and their dissatisfaction with the process, especially the increased length of time being taken for the renewal of a Turks and Caicos Islands Passport.The Ministry, this week, concluded several discussions with Her Majesty’s Passport Office (HMPO) and the members of the Registration and Citizenship department within the Ministry, in which it was identified that the key factors impacting the service delivery of passports are the lack of dedicated resources to the passport processing unit and the need for further knowledge development in the various British Nationality Acts and their applications. While these gaps are the main contributors to the significant delays, it was further identified that a smaller number of passport applications are being affected by incomplete submissions of documents by customers.The passport application process is two-pronged, with a local approval process prior to them being uploaded electronically to the processing site utilized by HMPO for verification of details and the final printing of the passport facility.On Tuesday May 30, 2017, management within the Ministry undertook a reassignment of duties among the personnel within the Registration and Citizenship Department to increase the number of resources that are now dedicated to the processing of passport applications. This, along with the temporary staff that the Ministry recently employed, will assist in decreasing the backlog locally, while efforts are being made to organize the much needed training in the BNA and other HMPO policies for the overall reduction in the inaccuracies being recorded in the application process.While the Office of the Deputy Premier and Ministry of Border Control and Employment regrets the inconvenience caused to its clients in recent months, management remains committed to ensuring that there is marked and noticeable improvements in the processing of passports and the delivery of all services that fall under the Ministry.#magneticmedianews#tcipassportprocessimproves Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:#magneticmedianews #tcipassportprocessimproveslast_img read more

Ministry of Border Control and Employment Confirms Recent Intelligence on Sloop Activity

first_img Related Items:#9sloopstrytoenterTCI, #magneticmedianews, #USintelligencedetourHaitiansloops Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppTurks and Caicos, June 15, 2017 – Providenciales – The Ministry of Border Control and Employment confirms that on Tuesday 13th June 2017, intelligence was received that nine sloops had departed Haiti and headed north in the direction of the Turks and Caicos Islands.Joint operations and collaboration with other regional border patrol and security agencies resulted in the course of the vessels being disrupted and up to the time of this release, no reports of sloops being in the vicinity of the Turks and Caicos were received.The Turks and Caicos Islands Government is grateful for the intervention of the US coastguard in successfully diverting what would have otherwise been an extremely challenging event for us here.The Turks and Caicos Islands remains an active member of OPBAT, Operations Bahamas, Turks and Caicos, which is a combined Coast Guard, DEA and Government of the Bahamas partnership to combat illegal migration, drug and other contraband smuggling to and from the Bahamas and as a part of this organization, the TCI continues to enjoy the success of operations such as that which deterred the nine sloops earlier this week.We continue to caution our own residents that harboring illegal migrants is a crime and such persons can now face a fine of $20,000 on summary conviction or to a term of imprisonment of four years, or to both. In addition, persons acquiring status other than by birth that are convicted of such an offense, face the possibility of having their status in the Islands revoked, thereby making them liable to deportation.Press Release: TCIG#MagneticMediaNews#9sloopstrytoenterTCI#USintelligencedetourHaitiansloopslast_img read more