Regulation & Compliance
Travelers’ A.M. Best Financial Strength Ratings Soar
Travelers and most of its subsidiaries saw their already stellar financial strength ratings from A.M. Best get even better. This was based, in part, on the insurer's ability to generate solid ...
Governance Concerns Raised Over Bonus for CEO of China’s JD.com Ahead of U.S. IPO
China's No. 2 e-commerce company, JD.com Inc, awarded Chief Executive and founder Richard Liu a one-off, share-based bonus of $591 million as the company prepared for its U.S. IPO, giving rise to ...
Tower Group Hires Greenhill to Advise on Debt Repayment If Merger Deal Fails
Tower Group International Ltd., the insurer that agreed to be bought by ACP Re Ltd. amid a stock plunge, hired Greenhill & Co. to provide advice on repaying debt if the takeover collapses. Tower ...NY AG Schneiderman Says AIG Suit Is Bid to Hobble Unlicensed Sales Probe
New York Attorney General Eric Schneiderman asked a federal judge to dismiss a lawsuit filed by American International Group Inc. against the state's Department of Financial Services and its ...
FINRA Probing Abusive Trades Based on Mathematical Algorithms
Wall Street's self-regulator is cracking down on abusive trades made on the basis of mathematical algorithms and currently has some 170 ongoing investigations into the subject, its chief said on ...
Global Warming to Pressure Sovereign Creditworthiness, S&P Says
Global warming will harm sovereign creditworthiness around the world this century, with poorer nations the worst hit, Standard & Poor's Ratings Services said. Climate change is one of two "global ...
Bank of America Cleared For Concealing $10B AIG Fraud Lawsuit
A federal appeals court said Bank of America Corp was not liable to shareholders for allegedly concealing a $10 billion fraud lawsuit by American International Group Inc, whose filing led to a ...
Troubled Tower Ends Relationship with PwC; Fitch Announces Downgrade, Rating Withdrawal
Tower Group International has fired PricewaterhouseCoopers as its accounting firm, six months after announcing it would restate previously filed financial statements for 2011 and 2012 due to ...