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Results: 1-10 of 62

New Verus unclaimed property audit initiative branches out

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 9 2012

We have learned that Verus Financial, LLC (“Verus”), the contract audit firm recently known for conducting multistate unclaimed property examinations of the insurance industry, has begun to focus its audit activity on companies in the securitiesfinancial products and services arena

ING to receive additional Dutch government assistance; CEO steps down

  • Alston & Bird LLP
  • -
  • Netherlands
  • -
  • January 26 2009

Today, in efforts to "counter the implications of the persistently challenging economic and market conditions," the Dutch government and ING Groep NV separately announced an agreement to create an "Illiquid Assets Back-up Facility" covering a full risk transfer to the Dutch Government of 80 of ING's 27

U.K. Financial Services Authority sets new stress test standards

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • December 14 2009

On Friday, the U.K. Financial Services Authority (FSA) announced the issuance of a new policy statement that will require firms to improve their own stress testing, including the addition of a new reverse stress-testing requirement “to identify and assess scenarios most likely to cause their current business models to become unviable.”

Senator Reid files for a cloture vote on financial regulatory reform bill as President addresses Wall Street

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 23 2010

Following a stinging letter sent on Tuesday by Senate Majority Leader Harry Reid (D-NV) and Senate Banking Committee Chairman Christopher Dodd (D-CT) claiming that "Senate Republican leadership seems more interested in mischaracterizing the legislation and protecting Wall Street," Senator Reid yesterday filed for a cloture vote late Monday afternoon on the financial regulatory reform bill, the "Restoring American Financial Stability Act."

GAO issues report regarding recommendations for US financial regulatory reform

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 14 2009

On January 8, the Government Accountability Office (GAO) issued a report on Financial Regulation proposing a broad framework for “crafting and evaluating regulatory reform proposals”

European Commission adopts measures to enhance and strengthen supervisory committees and standard-setting bodies for accounting and auditing

  • Alston & Bird LLP
  • -
  • European Union
  • -
  • January 26 2009

Today the European Commission (EC) announced its adoption of several proposals intended to enhance and strengthen the present framework for EU supervisory committees in the following industries: securities, banking and insurance

EC issues legislative proposals seeking to create EU-wide system of financial supervision

  • Alston & Bird LLP
  • -
  • European Union
  • -
  • September 24 2009

Today, the European Commission (EC) announced important legislative proposals that are intended to strengthen the framework of financial supervision in Europe at both "the macro and micro-prudential supervision levels" by creating the "first EU-wide system of financial supervision."

Secretary Geithner testifies before House Financial Services Committee on Administration's proposals for financial regulatory reform

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 23 2009

Today, Treasury Secretary Timothy Geithner testified before the House Financial Services Committee on the Obama Administration's proposals for financial regulatory reform

Ecofin Council moves forward to strengthen EU financial supervision

  • Alston & Bird LLP
  • -
  • European Union
  • -
  • June 10 2009

Yesterday, the Economic and Financial Affairs Council met to discuss the reform of the European Union’s “supervisory framework for financial markets,” following the recommendations of the High-Level Group on Supervision, chaired by Mr. Jaques De Larosiere, “aimed at strengthening the supervisory system and rebuilding trust in the wake of the global financial crisis.”

Rep. Paul Kanjorski releases legislation addressing investor protection, registration of certain unregistered investment companies and creation of an Office of National Insurance

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 5 2009

On Thursday, Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, released discussion drafts of the following legislation to "address many of the shortcomings and loopholes laid bare by the current financial crisis"