SEC settlement News

Q&A: Liability Insurance Implication for Admitting Wrongdoing in SEC Settlements

Earlier this year, the U.S. Securities and Exchange Commission reached a settlement with New York-based hedge fund adviser Philip A. Falcone and his advisory firm Harbinger Capital Partners. The agreement was the first to require a defendant to admit wrongdoing …

New York Bans Fund Manager Falcone From Insurance Unit

Hedge fund manager Philip Falcone, banned from the securities industry for five years by U.S. regulators, is also being banned for seven years from decision-making roles at Fidelity & Guaranty Life Insurance, a unit of his firm, New York officials …

Aon to Pay $16.2 Million to Settle Bribery Charges

Insurance brokerage firm Aon Corp. will pay $16.2 million to settle criminal and civil charges that it paid bribes to foreign government officials over more than two decades, the U.S. government said on Tuesday. Under a non-prosecution agreement with the …

Judge Rejects Citigroup-SEC Mortgage Settlement; Orders Trial

A federal judge angrily threw out Citigroup Inc.’s proposed $285 million settlement over the sale of toxic mortgage debt, excoriating the top U.S. market regulator over how it reaches corporate fraud settlements. U.S. District Judge Jed Rakoff in Manhattan said …