Government
Judge Allows California Case Against Standard & Poor’s To Proceed
A U.S. judge has allowed the California attorney general's office to proceed with a lawsuit accusing Standard & Poor's of misleading investors by inflating its credit ratings that led to ...
U.S. Charges Two Ex-JPMorgan Bankers Over ‘London Whale’ Loss
U.S. prosecutors brought criminal charges on Wednesday against two former JPMorgan Chase& Co employees in the trading scandal that cost the bank $6.2 billion last year, but the trader nicknamed ...
Samsung Sued by Brazil Prosecutor For Factory Working Conditions
Samsung Electronics Co. was sued by a Brazil public prosecutor who says workers at a company factory were subject to unsafe conditions, according to a statement on a government website. The Public ...
U.S. Regulator Wants Auditors to Add Commentary, Not Analysis
Auditors know a lot about what lurks between the extremes of "pass" or "fail" - the only grades they are now permitted to assign to corporate financial statements - and the U.S. board that oversees ...
Dear Florida CFO: Why Lower Reinsurance Costs Do Not Lower Homeowner Premiums
Florida's insurance regulator, answering the state's CFO who wanted to know why lower reinsurance costs have not translated into reduced homeowners rates, said insurers have significant leeway in how ...
G20’s Regulator Extends Systemically Important Bank Rule to Biggest Insurers
The Financial Stability Board said an extended version of its guidance on the resolution of systemically important banks will apply to non-bank financial institutions, such as Allianz SE, AIG and ...Downgraded Meadowbrook Delays Filing to Weigh Goodwill Impairment
Meadowbrook Insurance Group Inc., the insurer whose rating was cut by A.M. Best Co. last week, delayed filing a quarterly report to the U.S. Securities and Exchange Commission as the company reviews ...
Commentary: Does FSOC Understand the Business of Insurance?
The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that "material financial distress at AIG could pose a threat ...