Headlines

These Bank Branches Sell Diamonds — and Regulators Are Taking a Look

They’re “reassessing the whole subject.”

Published

8 years ago

November 14, 2016

INSTORE Staff

In Italy, bank customers can do something that many in North America would find strange — buy diamonds.

As Reuters explains, diamond brokers work through several banks throughout the country. The deals generated sales of more than $320 million last year.

But investigators are looking into the practice, Reuters reports. The investigation follows a report by state news channel Rai3 that “several banks sold diamonds as financial products in bank branches at twice the market price.”

Reuters quoted a spokesman with the The Italian Securities and Exchange Commission (CONSOB) saying:

“We are reassessing the whole subject again to see whether we need to act at a regulatory level or with specific recommendations, if there are gray areas or a regulatory gap we need to fill, or if there have been abuses that need to be referred to judiciary authorities.”

Read more at Reuters

Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”