Regulation & Compliance
China Banks Shifting Risks to ‘Shadow System’ of Insurers, Brokerages, Trusts
China's banks are feeding unwanted assets into the country's "shadow banking system" on an unprecedented scale, reinforcing suspicions that bank balance sheets reflect only a fraction of the actual ...
Guide To Preventing Class-Action Disasters Arising From Natural Catastrophes
According to recent estimates, total insured losses for Superstorm Sandy will total at least $25 billion. This figure dwarfs the $4.5 billion in estimated losses caused by Hurricane Irene in 2011. ...
New Mexico Governor Signs Bill Limiting Spacecraft Liability
New Mexico Gov. Susana Martinez this week signed into law liability-waiving legislation aimed at saving the state's nearly quarter-billion-dollar investment in a futuristic spaceport and retaining ...
India to Create Own Reinsurance Fund to Cover Refiners of Iran Oil
India plans to set up a fund of up to 20 billion rupees ($368.4 million) to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions ...
Fed Approves Process for Designating Nonbanks for Stricter Regulation
The U.S. Federal Reserve said on Wednesday that it had approved a final rule to clarify the process the new U.S. risk council will follow when it begins designating nonbank financial firms for ...
Former Budget Chiefs Warn on Deficit But Disagree on Speed in Fixing
Two former U.S. budget chiefs who worked for presidents from opposing political parties said on Monday that the government should reduce military spending, scale back Social Security payments and end ...
Will Britain’s New Financial Regulatory Bodies Curb Excesses?
Britain launched its new system of financial supervision on Tuesday, hoping that two new regulators will succeed where a single one failed in preventing banking crises and protecting consumers from ...Greenberg’s View: AIG, Inside vs. Outside Directors and Arthur Levitt
Former AIG CEO and Chairman Maurice "Hank" Greenberg warned against the movement to install more outside directors on corporate boards long before a group of outsiders took over American ...