Articles by Emily Chasan

XL Catlin, Nature Conservancy Eye Coastal Wetlands Investments for Storm Mitigation

When Hurricane Sandy hit the U.S. East Coast in October 2012, its 80-mile-per-hour winds and the resulting flooding did about $71 billion in damage. After the storm, researchers found that natural coastal ecosystems saved communities from Maryland to New Jersey …

Social Issue Investors Pressuring Employers on Pay Equity and Paid Leave Policies

Investors focused on social issues are finding that trickle-down diversity doesn’t work. For years, they surmised that having enough women on boards and in senior management would produce fairer policies. Now investors are changing tactics, saying it’s not enough and …

New York May Sue Accountant Over Lehman Collapse

A possible civil fraud case against Ernst & Young LLC over its role in the collapse of Lehman Brothers could be the biggest government attack on an accounting firm since the collapse of Arthur Andersen over the Enron scandal. New …

Spitzer: Wall Street Should Avoid ‘Frankenstein’ Financial Products

U.S. regulators should clamp down on Wall Street innovation to prevent firms from creating “Frankenstein” financial products with no substantial value to the public at large, former New York attorney general Eliot Spitzer said on Wednesday. Spitzer, the former New …

KPMG Wins Dismissal of Madoff Feeder Fund Lawsuit

Accounting firm KPMG LLP won dismissal Wednesday of a lawsuit stemming from its audits of a “feeder fund” into confessed swindler Bernard Madoff’s ponzi scheme. In an opinion Wednesday Judge Thomas Griesa, of the U.S. District Court in Manhattan, said …

Former SEC Head Donaldson Calls for Regulatory Overhaul

Former U.S. Securities and Exchange Commission Chairman William Donaldson said the United States needs a regulatory overhaul, similar to changes made to the system after the Great Depression. “It’s clear there have been some regulatory breakdowns,” Donaldson said at a …

Chinese Fund Manager Pays $2.1 Million for Buffett Lunch; Tip Included

A Chinese fund manager has won a lunch with famed U.S. investor Warren Buffett after bidding $2.11 million for the opportunity in a charity auction, more than three times what the lunch fetched last year. Zhao Danyang, who runs Hong …

Lifting the Lid: Accounting Rulemakers to Speed Up Convergence

Get ready for a flurry of new accounting rules. U.S. and foreign accounting rulemakers will soon debut a new plan to speed up the convergence of international and U.S. accounting rules, with the aim that all major capital markets would …

Bear Stearns, Deloitte & Touche Sued over Hedge Fund Losses

The liquidators of two Bear Stearns Cos mortgage hedge funds that collapsed last year, filed suit Monday against the company and its auditor, Deloitte & Touche, seeking to recover over $1 billion in losses. The suit, filed in U.S. District …