Regulation & Compliance
Meadowbrook Cuts Credit Facility to Meet Loan Covenants
Meadowbrook Insurance Group Inc., which had its rating cut in early August by A.M. Best, said it will reduce the funds available on a credit facility as part of an agreement to comply with loan ...NY Proposes Rules on Troubled Mortgage Insurance
New York regulators have proposed new rules governing insurance obtained by lenders to protect their investments in properties with troubled mortgages. The Department of Financial Services says the ...
SEC Turns Policy Corner with JPMorgan Guilty Admission
The U.S. Securities and Exchange Commission, in settling claims with JPMorgan Chase & Co. over its handling of a $6.2 billion trading loss, landed its biggest victory yet in fulfilling a pledge ...
U.S. Risk Council Designates Prudential for Tougher Oversight
Insurer Prudential Financial Inc. said the U.S. financial risk council has designated the company as systemically risky in a final vote, bringing it under stricter regulatory oversight. Prudential ...
NAMIC Opposes Efforts to Delay Flood Insurance Reforms
The National Association of Mutual Insurance Companies on Wednesday released a statement urging Congress to resist efforts to delay the reforms adopted under the Biggert-Waters Flood Insurance Reform ...
D&O Lawsuits by FDIC on Fast Pace: Cornerstone Research
This year's Federal Deposit Insurance Corp. (FDIC) litigation over failed financial institutions is already exceeding that of the previous three years. According to a new report by Cornerstone ...
SEC Unveils CEO-to-Worker Pay Ratio Rule
U.S. corporations will need to disclose how their chief executive officers' paychecks compare with those of their workers under a proposal unveiled on Wednesday by the U.S. Securities and Exchange ...
PwC to Build Insurer Risk Group After Hiring Essert
PricewaterhouseCoopers LLP's Henry Essert is building a group that consults with insurance companies on risk management as regulatory scrutiny intensifies, after joining the firm from BlackRock Inc. ...