Regulation & Compliance
Former AIG CEO Greenberg Must Face N.Y. Suit Over Reinsurance
Former American International Group Chief Executive Maurice "Hank" Greenberg failed to persuade New York state's highest court to dismiss a lawsuit seeking to hold him accountable for sham ...S&P Mortgage Ratings Trial Sought by U.S. in February 2015
The U.S. Justice Department is seeking a trial in February 2015 in its lawsuit against McGraw Hill Financial Inc.'s Standard & Poor's unit over ratings on residential mortgage-backed securities. ...
Insurance Costs Climb With Ocean Temps: Geneva Association Report
There's only one direction for insurance costs related to climate events to move in the years ahead—upward, according to a report published today about the implications of ocean warming for the ...
Congressmen Warn Credit Raters Against Repeating History on CDOs
The top executives of Standard & Poor's, Moody's Investors Service and Fitch Ratings were warned by three members of Congress against granting inflated grades to the same type of securities that ...
Ebix’s Raina Loses Magic Touch As U.S. Probes Accounting
Robin Raina always had the magic touch, or so it seemed until Wednesday, when the disclosure of a U.S. criminal probe of his software company's accounting practices blew up a proposed $820 million ...
President Obama Speech on Climate Policy Expected Tuesday
President Barack Obama is likely to roll out a number of measures on climate policy, potentially including a strategy to limit greenhouse gas emissions from existing power plants, in a speech on ...
SEC Settlement Policy May Pressure Other Agencies To Toughen Up
The decision by the U.S. Securities and Exchange Commission to seek admissions of wrongdoing in select enforcement cases is expected to put pressure on other federal financial regulators to get ...
Mini Flash Crashes Caused By Sloppiness, Not A Broken Market: SEC
Unexplained rapid price drops in single stocks have generally been triggered by human error, not nefarious trading activity or high-speed trading algorithms gone wild, an official at the U.S. ...