Securities Law, Commercial Law & Contracts, Insurance

Tenth Circuit Holds Underlying Securities Claims Interrelated

by Traub Lieberman Straus & Shrewsberry LLP on 5/14/2013

In its recent decision in Brecek & Young Advisors, Inc. v. Lloyds of London Syndicate 2003, 2013 U.S. App. LEXIS 9599 (10th Cir. May 13, 2013), the United States Court of Appeals for the Tenth Circuit, applying New York law,...more

Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank [Video]

by Bloomberg Law on 5/10/2013

May 10 (Bloomberg Law) -- Michael Greenberger, a professor at the University of Maryland School of Law, tells Bloomberg Law's Lee Pacchia that a new set of legislation making its way through the House of Representatives could...more

Insurance Coverage for Class Action Lawsuits

by Judy Selby | BakerHostetler on 4/19/2013

Upon learning that his obituary had been published in the New York Times, Mark Twain famously quipped, “Reports of my death have been greatly exaggerated.” The same can be said about class action lawsuit filings after the...more

CLO Update: New FDIC Rules on "Higher Risk Securitizations"

by Matthew Clark | Dechert LLP on 3/28/2013

The FDIC's new rules (promulgated per the requirements of the Dodd-Frank Act) for calculating deposit insurance assessments for insured depository institutions, including "large institutions" and "highly complex...more

Financial Services Quarterly Report - First Quarter 2013: New Rules for China’s RQFII Regime

by Angelyn Lim, Kylee Zhu | Dechert LLP on 3/27/2013

At the January Asian Financial Forum in Hong Kong, the Chairman of the China Securities Regulatory Commission (“CSRC”), Mr. Guo Shu Qing, stated that Mainland China could increase the level of investment quotas for both the...more

Wager, Insurance, Bucketing or Swap?

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 3/5/2013

In yesterday’s post, I mentioned Professor Joan Heminway’s recent essay on crowdfunding. She notes that some crowd funding arrangements may “may look less like investment instruments commonly known as common stock or...more

Federal District Court Issues First Ever Post-Trial Order Requiring Bank To Reimburse Monoline Insurer Over Loans Backing MBS

by BuckleySandler LLP on 2/18/2013

On February 6, the U.S. District Court for the Southern District of New York found that loans underlying two trusts issued by a Michigan bank breached the representations and warranties in the contracts the bank entered with...more

Ninth Circuit Applies Securities Litigation Uniform Standards Act to Affirm Dismissal of Section 17200 Class Action Involving...

by Bridget Russel, John Stigi | Sheppard Mullin Richter & Hampton LLP on 2/4/2013

In Freeman Investments, LP v. Pacific Life Insurance Co., No. 09-55513, 2013 WL 11884 (9th Cir. Jan 2, 2013), the United States Court of Appeals for the Ninth Circuit held that the Securities Litigation Uniform Standards Act...more

Ninth Circuit: SLUSA Does Not Bar State Law Breach of Contract Claims

by Shawn Hough | BakerHostetler on 1/15/2013

The Securities Litigation Uniform Standards Act of 1998 (“SLUSA”) is a federal law that bars state law securities class actions alleging misrepresentations or omissions related to the purchase or sale of certain covered...more

English Court of Appeal Decision on Multiple Causes and Mitigation of Loss

by Chen Foley | Sedgwick LLP on 1/9/2013

In Ace European Group & Ors v Standard Life Assurance Limited, [2012] EWCA Civ 1713, the English Court of Appeal reaffirmed the principle that where a loss has multiple causes, the insured’s entitlement to an indemnity in...more

SEC Charges Allianz with FCPA Violations

by David Smyth | Brooks Pierce on 1/2/2013

On December 17th, the SEC brought a settled administrative FCPA action against Allianz SE, a German insurance company with a subsidiary in Indonesia. The order does not allege violations of the FCPA’s antibribery provisions,...more

Allianz To Pay $12.3M To Settle SEC’s Bribery Allegations

by Raymond Banoun | Cadwalader, Wickersham & Taft LLP on 12/20/2012

On December 17, 2012, the Securities and Exchange Commission ("SEC") announced that Allianz SE ("Allianz"), a German-based insurance and asset management company, had agreed to pay approximately $12.3 million to settle...more

The Sixth Circuit Upholds the Northern District of Ohio’s Decision Potentially Limiting Policyholders’ Ability to Seek Excess...

by K&L Gates LLP on 11/9/2012

Introduction - In a recent decision, the Sixth Circuit upheld a Northern District of Ohio decision rejecting the long-held rule that a policyholder’s settlement with an underlying insurer for less than full policy limits...more

Financial Markets Law & Regulation Update n°22/2012

by Andrea Luciano on 10/2/2012

Update on EU and Italian laws & regulation in Financial Markets, Funds, Banking and Insurance, 24 - 30 September 2012....more

Financial Markets Law & Regulation Update n°21/2012

by Andrea Luciano on 9/25/2012

Update on EU and Italian laws & regulation in Financial Markets, Funds, Banking and Insurance, 17 – 23 September 2012....more

Financial Markets Law & Regulation Update n°20/2012

by Andrea Luciano on 9/19/2012

Update on Italian and EU laws & regulation in Financial Markets, Funds, Banking and Insurance, 3 – 16 September 2012....more

Legal Alert: CFTC and SEC Finally Issue Product Definitions

by Sutherland Asbill & Brennan LLP on 7/12/2012

Yesterday, the Commodity Futures Trading Commission (CFTC) approved final rules and interpretative guidance (Final Rules) to (1) further define the terms “swap,” “security-based swap” and “security-based swap agreement,” (2)...more

SDNY Construes ‘Material and Adverse Effect’

by Orrick - Securities Litigation and Regulatory... on 6/26/2012

In numerous pending lawsuits in New York federal and state courts, monoline insurers are suing Wall Street banks for alleged breaches of representations and warranties about the quality and characteristics of residential...more

JOBS Act Has Implications for Private Company D&O Liability Insurance

by Wilson Sonsini Goodrich & Rosati on 6/4/2012

On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups Act (commonly referred to as the "JOBS Act"), which was designed to promote job creation by small companies and start-ups through the...more

The Corporate Counselor -- Volume 27, Number 1, May 2012: Guidelines for Maximizing D&O Insurance Coverage For SEC Matters

by Bradley Arant Boult Cummings LLP on 5/1/2012

Originally published in the May 2012 edition of the Law Journal Newsletters 2012, ALM Media Properties, LLC. Most corporate counsel know that their D&O insurance may advance or reimburse defense costs, and settlements...more

Regulatory: Understanding your D&O insurance policy: D&O insurance can differ significantly from other liability insurance

by Kirton McConkie PC on 3/7/2012

Originally published in InsideCounsel on March 7, 2012. Directors and Officers (D&O) insurance offers vital protection to a company and to its directors and officers against financial claims and liabilities. D&O...more