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Results: 1-10 of 581

NAIC Valuation of Securities (E) Task Force adopt assumptions for residential mortgage-backed securities

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 8 2009

On December 2, 2009, the NAIC Valuation of Securities (E) Task Force adopted final assumptions ("the Assumptions") for the financial model used in determining risk based capital ("RBC") for insurer owned residential mortgage-backed securities ("RMBS"

United States Solicitor General: the convention is not preempted by the McCarran-Ferguson Act

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • September 24 2010

As our readers know, we have been following the developments in Louisiana Safety Association of Timbermen Self Insured Fund v. Certain Underwriters at Lloyd’s, London, et al., No. 09 945, a case under consideration for certiorari by the U.S. Supreme Court that concerns whether Article II of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, as implemented by Chapter 2 of the Federal Arbitration Act (the “FAA”), is an “Act of Congress” subject to the anti preemption provision of the McCarran Ferguson Act, 15 U.S.C. 1011, et seq

Second Circuit determines party waived its right to arbitrate

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 13 2010

Recently, the U.S. Court of Appeals for the Second Circuit affirmed a district court’s ruling denying the motion of plaintiffs-appellants (collectively “LSED”) to compel arbitration of a dispute with Merrill Lynch, Pierce, Fenner & Smith Inc. (“MLPFS”), finding that LSED waived its right to arbitrate by litigating the case for nearly a year before filing its motion

New York state court decision raises issues concerning the drafting of arbitration clauses

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • September 20 2010

By Design, LLC terminated the employment of Oded Nachmani, who claimed he was wrongfully dismissed in violation of his employment contract and certain discrimination laws

Federal court finds that the proper venue for a motion to confirm an arbitration award is the district in which the hearing was held, not where the award was signed

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 15 2010

NGC Network Asia, LLC (“NGC”) and Pacific Group International, Inc. (“PAC”) were parties to an arbitration held in New York

White House proposes SEC registration and oversight of private equity, venture capital and hedge fund advisors

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 21 2009

The White House proposed legislation to Congress last week that would require investment advisors to private equity, venture capital and hedge funds with more than $30 million in assets under management to register with the Securities and Exchange Commission (SEC

New York adopts revisions to Regulation 118 governing audited financial statements

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 12 2010

On December 28, 2009, the New York Insurance Department ("NYID") issued a Notice of Emergency adoption revising Regulation 118 to implement new audit and reporting standards on an emergency basis

Court approves American Home Mortgage's settlement of a subprime securities class action

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • September 18 2009

On July 30, 2009, the US District Court for the Eastern District of New York approved a $37.25 million settlement of a subprime-related securities class action styled, In re American Home Mortgage Securities Litigation

Liability insurer seeks declaration of no coverage in school laptop monitoring case

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • April 27 2010

An insurer that issued a school district liability policy to the Lower Merion School District has filed a declaratory judgment action, seeking a ruling that a recent privacy-related civil rights lawsuit against the school district is not covered by the policy

SEC and NAIC take affirmative steps to address corporate disclosures regarding climate change

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 27 2009

On October 2, 2009, as part of the 48th Annual Corporate Counsel Institute held at Northwestern University School of Law, SEC Commissioner Elisse B. Walter gave a speech entitled “SEC Rulemaking ‘Advancing The Law’ To Protect Investors.”