Trust Digest 90 (March 31, 2015)


New York City Comptroller to Call for New Fiduciary Disclosures by Brokers
New York City Comptroller Scott Stringer on Wednesday will call for stockbrokers and financial advisers operating in New York state to be required to disclose whether they are obligated to put their clients’ interests ahead of their own.
Key Words: Fiduciary Disclosure, Dodd-Frank
Trust Issues: Benevolent Concern, Level of Communication


Iraq Inches Toward 3-Way Split
Jassem Abbas spent the past several months sleeping on the floor of a mosque that has become a scabies-infested refugee camp. But he won’t return to his once-comfortable home in Iraq’s northern city of Mosul even if it is liberated from Islamic State one day.
Key Words: Iraq, Sectarianism
Trust Issues: Alignment of Interests, Number of Similarities


Even if there's a nuclear deal, Iran doesn't want to normalize ties with the 'Great Satan'
Iran is not expected to normalize relations with the United States even if Tehran reaches agreement with world powers on its nuclear program, officials and analysts said. The United States, Britain, France, Germany, Russia and China are trying to reach a deal with Iran aimed at stopping Tehran being able to develop a nuclear bomb in exchange for an easing of sanctions that are crippling its economy.
Key Words: Nuclear Negotiation, Iran
Trust Issues: Alignment of Interests, Predictability and Integrity


Rock Star Bob Geldof Spearheads U.S. Private-Equity Push Into Ethiopia
A generation ago, this African nation was a magnet for Western charity. Today, some of America’s richest deal makers are delivering something new: investment. A number of high-profile investors have recently shown up here. KKR & Co., the New York-based private-equity firm, last summer bought control of a rose farm, Afriflora, for about $200 million, its first investment in Africa. Blackstone Group plans to build a $1.35 billion pipeline to bring gasoline to the capital, Addis Ababa. Hedge-fund manager Paul Tudor Jones is backing a $2 billion geothermal power project.
Key Words: Private Equity, Ethiopia
Trust Issues: Stability, Alignment of Interests


Amid drought, some California farmers in near 'survival mode'
For farmers in parched California, it's water allocation time. An annual right of spring, the state's water authority monitors winter storm runoff and sets water deliveries for customers. Those regional water allotments are cut into chunks and trickle down to small farmers like Mike DeWit, a second-generation rice farmer in Northern California. He proudly grows a medium-grain variety that once cooked is soft, sticky and holds its shape when molded—perfect for sushi rice. 
Key Words: Drought, California
Trust Issues: Alignment of Interests, Sustainability


Former Federal Agents Charged With Stealing Bitcoin During Probe
Two former federal agents were charged with stealing hundreds of thousands of dollars of virtual currency during an undercover investigation into an online drug market, bringing an age-old law-enforcement problem into the Internet era.
Key Words: Federal Agents, Bitcoin
Trust Issues: Corruption, Predictability and Integrity


EU official: Nuclear deal with Iran may spur proxy wars
A nuclear deal with Iran may spur proxy wars in the Middle East as Sunni Muslims try to counter an increasingly wealthy and powerful Shi'ite Iran, the European Union’s counter-terrorism coordinator said on Monday.
Key Words: Google, FTC, Antitrust
Trust Issues: Free Competition, Relative power


As China Expands Its Navy, the U.S. Grows Wary
China’s navy chief, Adm. Wu Shengli, strolled the Harvard University campus in a tweed blazer and slacks during a visit to the U.S. last fall, joking with students and quizzing school officials about enrolling some of his officers. A few days earlier, he became the first Chinese navy chief to attend a 113-nation naval forum in Rhode Island, where he hailed U.S.-China military ties and discussed working together on global maritime challenges.
Key Words: Chinese Navy, Foreign Relations
Trust Issues: Risk Tolerance, Security, Relative Power


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