Articles by Sarah N. Lynch

Senate Banking Committee Post Possible for Wall Street Critic Warren

The chances are good, but not guaranteed, that Elizabeth Warren will secure a highly coveted seat on the Senate Banking Committee, a move that would dramatically elevate her campaign against Wall Street excess. Senior Senate Democratic aides, speaking on condition …

Financial Oversight Panel Eyes Prudential As ‘Systemically Important’

The new U.S. risk council has moved closer to deciding whether Prudential Financial is “systemically important,” a Prudential spokesman said on Friday, a tag that would translate into greater regulatory scrutiny for the second-largest U.S. life insurer. The 2010 Dodd-Frank …

Business Groups Sue SEC Over Dodd-Frank Anti-Bribery Rule

Four business groups on Wednesday filed a lawsuit against the U.S. Securities and Exchange Commission’s new rule requiring oil, mining and gas companies to disclose payments they make to foreign governments. The lawsuit marks the latest in a string of …

More Transparency Urged for U.S. Financial Oversight Units

The new U.S. financial risk council should publicly share more details about its closed-door meetings on emerging risks to markets, a congressional watchdog report has found. The Government Accountability Office said the Financial Stability Oversight Council, a group made up …

SEC Weighs Exempting Insurance Companies from Volcker Rule

The top U.S. securities regulator said on Tuesday her agency is exploring whether insurance companies can qualify for a coveted exemption in the proposed Volcker rule that would protect them from having to scale back their investments in hedge funds. …

Courts Push Back on Foreign Bribery Prosecutions

As the U.S. Justice Department has stepped up its enforcement of an anti-foreign bribery law, it has faced the expected stiff resistance from the business community. Now it faces the unexpected as courts are pushing back, too. In an unusual …

SEC Changes Its Settlement Language Where Criminal Violations Admitted

U.S. securities regulators said on Friday that defendants can no longer settle civil cases using “neither admit nor deny” language if they have already admitted to wrongdoing in parallel criminal cases. The policy change, announced by Securities and Exchange Commission …

Whistleblowers Earn a Record $532 Million in 2011

Whistleblowers earned more than $532 million in 2011 through lawsuits alleging fraud against the U.S. government, a record for such payouts, according to a law firm study published on Friday. Private parties suing on the behalf of the government collected …

Mines Must Disclose Safety Violations to Investors Under New SEC Rules

Mining companies will need to disclose to investors information about health and safety violations under new rules adopted on Wednesday by the U.S. Securities and Exchange Commission. The rules, which are required by last year’s Dodd-Frank Wall Street overhaul law, …

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 …