Securities Insurance

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Securities Litigators Who Do Not Understand Insurance Coverage Could Pay Dearly

There was a time not that long ago when lawyers representing parties in securities litigation and arbitration did not have to concern themselves too much with insurance coverage issues. Federal and state statutory securities...more

N.Y. Banking and Insurance Superintendent Unveils Aggressive Agenda

Benjamin M. Lawsky, who heads the New York State Department of Financial Services (DFS), indicated that his agency is seriously considering more aggressive investigation and pursuit of individuals whose malfeasance has led...more

New York Trial Court Holds that Administrative Orders Do Not Constitute "Final Adjudications"

New York Trial Court Holds that Administrative Orders Do Not Constitute “Final Adjudications” For Purposes of Applying Fraud/Dishonesty Exclusion in Professional Liability Policy - A recent New York trial court...more

Amendment to the 10% Rule for Ontario-Registered Plans Now in Force

We had reported a few weeks ago that the Ontario Government had posted for public consultation a proposed exemption to the 10% rule. The 10% rule limits the percentage of plan assets that can be invested in, or loaned to, any...more

JPMorgan Settles RMBS Litigation Brought by Syncora

On February 24, monoline insurer Syncora Guarantee, Inc. announced that it had reached a settlement of RMBS litigation against JP Morgan Chase for an undisclosed sum. Syncora had alleged that J.P. Morgan and its affiliates...more

Legislative Update Report No. 2014-04 - Feb 28, 2014

In This Issue: Federal Government; Alberta; British Columbia; Manitoba; New Brunswick; Newfoundland; Northwest Territories; Nova Scotia; Nunavut; Ontario; Prince Edward Island; Québec/Quebec; Saskatchewan; and Yukon....more

Unprecedented HIPAA Fine May Mean Increased Scrutiny and Penalties

Triple-S Management Corp. (“Triple-S”), a Puerto Rico-based health insurer, has been fined $6.8 million by the Puerto Rico Health Insurance Administration (“PRHIA”) following a Health Insurance Portability and Accountability...more

Systemic Risk and Asset Management: Progressing from Ignorance to Confusion

Early this year, the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) issued a Consultative Document regarding Assessment Methodologies for Identifying Non-Bank Non-Insurer...more

Claims: Government Investigations, Enforcement and Triggering Insurance Coverage Under D and O Insurance [Video]

Recently, Pepper attorneys Frank A. Mayer, III and Charles E. Leasure, III gave a presentation on when an examination of a regulated institution triggers a claim and benefits under an insurance policy. They discussed the...more

Insurance Topics We Will Be Watching in 2014

With the first month of the year behind us, this report outlines major insurance topics that we will be watching throughout 2014. Forces, trends and events that we believe will affect regulation, transactions and...more

Legal Alert: Final Volcker Rule: Update and Key Takeaways for Insurers

On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the Commodity Futures Trading...more

How Strong Is Your D&O Safety Net?

Directors and officers policies is the most important insurance to protect directors and officers from personal liability. Corporations often broadly indemnify their directors and officers so gaps in D&O insurance will have...more

Private Equity Investors Demand More: More Insurance, That Is

As in years past, investors continue to pressure fund general partners for greater transparency, enhanced governance and more performance-based compensation structures. However, they are now also making demands in what would...more

Practical Tips For Avoiding Securities Litigation, Understanding D&O Insurance, And Selecting Defense Counsel

In my last post of 2013, I thought I’d share some thoughts about how public companies can better protect themselves against securities claims – practical steps companies can take to help them avoid suits, mitigate the risk if...more

New Dutch transfer pricing decree: incorporating case law, bringing clarity

The Dutch Ministry of Finance has released a new transfer pricing Decree that is already in effect. The New Decree, announced in late November, supersedes two earlier Decrees, that of 30 March 2001 (IFZ 2001/295) and...more

Global Financial Market Insight - November 2013

Welcome - With recovery in financial markets starting to take hold it is an exciting time to launch our Global Financial Markets Insight. The purpose of our new quarterly is to help guide new and experienced users of...more

Futures Industry Releases Insurance Study

On November 15, the Chicago Mercantile Exchange Group, Futures Industry Association, Institute for Financial Markets, and National Futures Association released a study on the economic feasibility of adopting an insurance...more

Ralph Ferrara Discusses Private Securities Litigation at PLI [Video]

Ralph Ferrara speaking at the Practising Law Institute’s 45th Annual Securities Regulation Institute. Ralph is part of a panel addressing the topic of Private Securities Litigation, including: * Key considerations in...more

SEC Enforcement/Securities Litigation and D&O Insurance

Recent SEC Enforcement Developments - .. Change in SEC policy regarding “no admissions” settlements - SEC Chair Mary Jo White has joined with colleagues at DOJ to change the perception that U.S. companies are...more

S.D.N.Y. Disqualifies Securities Class Action Plaintiffs’ Expert and Denies Class Certification

Recently, in IBEW Local 90 Pension Fund v. Deutsche Bank AG, No. 11-cv-4209, 2013 U.S. Dist. LEXIS 155136 (S.D.N.Y. Oct. 29, 2013), District Judge Katherine Forrest declined to certify a class of securities plaintiffs and...more

Financial Institutions Practice - Quarterly Review (October 2013)

In This Issue: - “The Upfront Costs of Compliance Are Looking More Like a Bargain Every Day” and “How to Minimise the Risk of Insider Trading and Leaking of Material Information” (October-December), Risk &...more

Recent Changes In SEC Enforcement Policy Require Renewed Attention To Directors’ And Officers’ Insurance Terms

In recent months, the Securities and Exchange Commission (SEC) has announced and implemented policy shifts that could compromise the availability of directors’ and officers’ (D&O) insurance coverage for entities and...more

Board Oversight of Cyber Security and Cyber-Security Disclosures: Answers to Some of the Key Questions

Cyber security is top of mind for companies, and cyber-security oversight is top of mind for corporate directors. I recently co-moderated a panel discussion for directors on board oversight of cyber security and...more

EIOPA Publishes Concerns on Investment Insurance Products’ Inclusion under MiFID II

A letter sent on September 19 from Gabriel Bernardino, the Chairman of the European Insurance and Occupational Pensions Authority (EIOPA), to the European Commission Director General of Internal Market and Services, Jonathan...more

The Meaning Of Life Settlements: Are They Securities Or Not?

“Life settlements” are financial transactions in which the original owner of a life insurance policy sells it to a third party for an up front, lump sum payment. The amount paid for the policy is less than the death benefit...more

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