Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
The Hits Keep Coming: More Transitional Cybersecurity Requirements in New York
Oct 10 2018 // It has been more than a year and a half since the New York Department of Financial Services cybersecurity regulations (cyber rules) came into effect, and yet another compliance deadline has passed. Broadly, “covered...
UK Expects 5,000 Financial Services Jobs to Move to Europe by Brexit Day
Oct 10 2018 // Despite thousands of jobs set to move to the continent due to Brexit, Britain’s financial services minister said on Wednesday he would do all he can to ensure the City of London remains a major financial center. John...
Update: China Plans to Hike Number of Financial Institutions Deemed Too-Big-to-Fail
Oct 10 2018 // Chinese authorities said they will designate more financial institutions as systemically important, a sign that policy makers are stepping up crisis-prevention efforts as the nation’s debt burden and financial risks...
North Carolina Agriculture Chief Requests $300M in Aid for Florence Recovery
Oct 10 2018 // North Carolina’s agriculture agency asked state legislators Monday for over $300 million to address cleanup and recovery after Hurricane Florence, with most going toward direct payments to farmers who lost crops and...
Michigan Court Rules No Liability for Bank in Wrong-Way Driver’s Crash
Oct 9 2018 // The Michigan appeals court says a bank can’t be blamed for a crash that occurred when a confused driver went the wrong way in suburban Detroit. Frank Scola was a 7-year-old passenger when his mother turned the wrong...
U.S. Limo Regulations Probed After Deadly New York Crash, NTSB Says
Oct 9 2018 // The National Transportation Safety Board will examine federal oversight of the limousine industry as part of its investigation into a deadly New York state crash that killed 20 people in the worst U.S. transportation event...
The Dying Continues as Asbestos Cleanup in Montana Town Progresses
Oct 8 2018 // The houses and yards and businesses are cleaned up. The so-called stigma of Superfund designation is fast fading. The Cabinet Mountains and the crystalline waters of the Kootenai River beckon visitors and even new...
Judge Allows New Jersey Case Against Drugmaker to Advance
Oct 5 2018 // A New Jersey court is allowing most of the state’s lawsuit against the maker of OxyContin to move forward. Superior Court Judge Thomas Moore dismissed a public nuisance claim against Purdue Pharma. But he’s...
Prosecutor Says Colorado Marijuana Laws Too Loose, Jeopardize Safety
Oct 5 2018 // Colorado’s system for regulating marijuana has too many loopholes that disguise illegal activity and jeopardize public safety, a federal prosecutor said, detailing his motivation for boosting scrutiny in the first...
Randall & Quilter to Acquire Coffey Group’s Irish Captive
Oct 4 2018 // Randall & Quilter Investment Holdings Ltd. (R&Q) announced it has entered into an agreement to acquire Western Captive Insurance Company Designated Activity Company (WCIC) from the Coffey Group of companies in...
Judge Rules Racial Bias Claim Against Bank Must Go to Private Arbitration
Oct 4 2018 // A black former Morgan Stanley broker who filed a lawsuit accusing the bank of racial bias must pursue his claims in private arbitration, a federal judge ruled on Wednesday. U.S. District Judge John Koeltl in Manhattan...
North Carolina Lawmakers Approve Florence Recovery Legislation, $57M in Funding
Oct 4 2018 // In a rare show of bipartisanship, the North Carolina legislature quickly approved Tuesday legislation described as financial and policy down payments on what’s expected to be a long, expensive recovery from Hurricane...
A U.S. Privacy Law Could Be Good for Google, but Bad for You
Oct 3 2018 // U.S. Congress is taking the first steps toward setting national rules governing how companies use consumers data – although one of its goals might be to prevent states from enacting stronger privacy protections of...
UK Financial Services Regulations Unlikely to Be Relaxed After Brexit: KPMG
Oct 3 2018 // KPMG expects Britain to ignore calls to loosen banking rules after Brexit and said in a report on Wednesday it may even become tougher with measures to protect consumers and defend its financial stability from cyber...
2 Recent Florida Supreme Court Rulings Could Impact Insurance Industry
Oct 2 2018 // Two recent decisions from the Florida Supreme Court that reversed rulings by the same District Court of Appeal will have a serious impact on the insurance industry. The consequential rulings came on Sept. 20, 2018 in the...
Texas Coastal Lawmakers Urge Denial of Windstorm Insurer’s 10% Rate Increase Request
Oct 1 2018 // More than 20 state legislators have signed a letter addressed to Texas Insurance Commissioner Kent Sullivan requesting that a 10 percent rate increase filed by the state’s property insurer of last resort for wind and...
South Carolina Supreme Court Rules Safety Trumps Jurisdiction in DUI Case
Oct 1 2018 // South Carolina’s highest court has ruled a woman’s DUI charge shouldn’t be dismissed because her car crashed a few feet outside the city whose officer detained her. Jennifer Lynn Alexander was found...
South Carolina Issues Emergency Order to Insurers, Updates Hurricane Florence Data Call
Oct 1 2018 // The South Carolina Department of Insurance has issued two Hurricane Florence-related notices to all property and casualty insurers doing business in the state. SCDOI Director Ray Farmer issued an emergency regulation Sept....
New York DFS Issues Final Reg Requiring Insurers to Include Formulary Exception
Oct 1 2018 // The New York Department of Financial Services (DFS) is taking new actions to address the opioid crisis in New York State. DFS issued a final regulation requiring insurers to include a formulary exception process for...
Australia’s Financial Institutions Put Profit over Customers, Mis-Sold Insurance: Inquiry
Sep 28 2018 // Australia’s big banks and wealth managers pursued profit ahead of their customers’ interests and saw regulatory compliance as a cost rather than a guide to proper conduct, a scathing interim report from a...
