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Results: 1-7 of 7

Financial Stability Oversight Council to hold first meeting on October 1

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 24 2010

Today, Treasury Secretary Geithner, who serves as chairperson to the Financial Stability Oversight Council, announced that the Council will hold its first meeting on October 1, 2010

Republicans circulate substitute summary of Financial Regulatory Reform Bill; cloture motion on Senate bill fails for third time

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 28 2010

Yesterday, Senate Republicans circulated a brief summary of the Financial Regulatory Improvement and Taxpayer Protection Act, a Republican substitute to the Restoring American Financial Stability Act of 2010 (S.3217) previously passed by the Senate Banking Committee along party lines, and which has failed to reach the Senate floor for debate following three failed cloture motions by Senate Majority Leader Harry Reid (D-NV), including today's 56-42 rejection of the motion

Regulator files petition and plans rehabilitation for segregated account of Ambac Assurance Corp

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 26 2010

Yesterday, Ambac Financial Group (Ambac) announced that its principal subsidiary Ambac Assurance Corporation (AAC), has established "a segregated account for certain of AAC's liabilities, primarily policies related to credit derivatives, residential mortgage-backed securities (RMBS) and other structured finance transactions" pursuant to the direction of the Wisconsin Office of the Commissioner of Insurance (OCI

Joint Economic Committee holds hearing on “Unregulated Markets: How Regulatory Reform Will Shine A Light in the Financial Sector”

  • Alston & Bird LLP
  • -
  • USA
  • -
  • December 2 2009

Today, the Joint Economic Committee held a hearing entitled "Unregulated Markets: How Regulatory Reform Will Shine A Light in the Financial Sector."

House Financial Services Subcommittee holds hearing on systemic risk

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 6 2009

The House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises held a hearing yesterday regarding perspectives on systemic risk in the financial system

New York State Insurance Department defers regulation of credit default swaps indefinitely

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 21 2008

The New York State Insurance Department (the “Insurance Department”) announced yesterday that it is indefinitely deferring the effective date of measures to regulate credit default swaps (CDS) as insurance contracts

New York to regulate credit default swaps as insurance; SEC seeks legislative authority to regulate credit default swaps

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 29 2008

On September 22, 2008, New York Governor Paterson and the New York Insurance Department (the “Insurance Department”) sent shockwaves around the derivatives industry by announcing that, beginning on January 1, 2009, the Insurance Department would regulate certain credit default swaps (CDS) as a form of financial guaranty insurance, at least when the CDS is issued in New York or issued to a New York purchaser who “holds, or reasonably expects to hold, a ‘material interest’ in the reference obligation.”