BNY Mellon Cooks Its LDI Books and The FCA Turns a Blind Eye.

#pension #crisis #uk #market #investing

Today we will look at how a subsidiary of BNY Mellon by the name of Insight Investment basically used fictitious gilt prices to mark the value of its publicly traded LDI funds during the September 2022 Gilt market meltdown.

What concerns me is that the U.K. regulator or the Financial Conduct Authority seems to think this kind of action actually helps maintain what they call 'market integrity"!

FT Article - Insight Investment ditched market prices in gilts crisis: https://archive.ph/5d3x7

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Video Chapters:

00:00 Introduction
01:27 Rudy update
02:05 how to safeguard your wealth outside the financial system
06:18 Insight Investment uses fictitious prices during the UK Gilt market meltdown
17:58 Regulators don't seem to care
19:00 The FCA condones the cooking of the books
20:36 market update