The U.S. Supreme Court on Tuesday appeared poised to curtail the power of the top federal securities regulator to seek civil penalties after exceeding the usual time limit for fraud investigations. In oral argument, justices from across the ideological spectrum …
Four former executives at Berkshire Hathaway Inc.’s General Re Corp. and one at American International Group Inc. are in talks to settle a long-running criminal case accusing them of engineering a reinsurance transaction that fraudulently boosted AIG’s loss reserves. The …
New York’s Attorney General must review his predecessor’s private emails relating to a probe of American International Group Inc. and decide whether to release them to the public, a state judge has ruled. The office of Attorney General Eric Schneiderman …
C. V. Starr & Co. Inc. Chairman and CEO Maurice “Hank” Greenberg is scheduled to host a fundraising event in New York on Tuesday, Sept. 20, for Texas Gov. Rick Perry. Perry is one of the leading Republican Party candidates …
The judge overseeing New York’s lawsuit against former American International Group Inc. Chief Executive Hank Greenberg denied Monday a motion urging him to quit the case. Greenberg sought to have New York State Supreme Court Justice Charles Ramos removed because …
Maurice “Hank” Greenberg, the former American International Group Inc. chief executive, said the judge overseeing a New York attorney general lawsuit against him should be removed from the case because he is biased. In a court filing, Greenberg said that …
New York dropped the last two criminal cases tied to a 2004 bid-rigging scandal involving Marsh & McLennan Cos after failing to win convictions of any of the eight insurance executives indicted. The state attorney general’s office has dismissed its indictments against former …
New York Governor Andrew Cuomo plans to improve regulation of Wall Street with a smaller state government that would merge the Banking and Insurance departments, Cuomo told a radio station yesterday. Cuomo, a Democrat who took office on Saturday, is …
Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits, New York will receive $5.5 million and …
The touchy subject of agents’ commissions dominated headlines in 2010 — particularly in New York where regulators unveiled new rules that will force agents to reveal to clients how much they are paid. That decision struck a major nerve within …
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