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Results:1-10 of 31

Federal regulation of the insurance industry: we are living in interesting times
  • Locke Lord LLP
  • USA
  • July 27 2010

The week of July 19, 2010 was an interesting week for the insurance industry with developments affecting the industry as a whole and a proposal to regulate life settlements as securities at the federal level.


Madoff fallout extends to insurance coverage
  • Locke Lord LLP
  • USA
  • July 15 2010

In addition to the panel on class actions (which we blogged about here), we attended an interesting panel this morning about a less publicized outgrowth from the Madoff litigation -- insurance coverage litigation.


New Hampshire restricts STOLI transactions
  • Locke Lord LLP
  • USA
  • June 28 2010

New Hampshire Governor John Lynch (D) signed HB 660 into law which enacted life settlement legislation in New Hampshire effective June 14, 2010 (the "Act").


Emergency Budget heralds insurance premium tax rise
  • Locke Lord LLP
  • United Kingdom
  • June 24 2010

On 22 July 2010 the Chancellor of the Exchequer, George Osborne, presented his emergency Budget.


Hong Kong: launch of yuan-denominated policies in Hong Kong
  • Locke Lord LLP
  • Hong Kong
  • June 21 2010

In order to tap investor expectations of a rising yuan (RMB), insurers are preparing to launch yuan-denominated policies as a new product offering for insurers in the Hong Kong market.


Supreme Court upholds Gartenberg test for mutual funds’ compensation of investment advisers
  • Locke Lord LLP
  • USA
  • May 5 2010

The Supreme Court recently issued an important decision regarding the test for determining whether an investment adviser has violated its "fiduciary duty" to a mutual fund by charging excessive fees under 36(b) of the Investment Company Act of 1940.


Second Circuit allows securities fraud claim alleging misrepresentations regarding nature, but not amount, of mutual fund’s fees
  • Locke Lord LLP
  • USA
  • April 27 2010

The Second Circuit recently overturned the Southern District of New York’s dismissal of a claim under 10(b) Securities Exchange Act of 1934 relating to management fees charged to a mutual fund in Operating Local 649 Annuity Trust Fund v. Smith Barney Fund Management LLC.


Connecticut Attorney General labels credit rating agencies as “enablers of the wrongdoing,” and calls for regulatory reform to end their system of compensation
  • Locke Lord LLP
  • USA
  • April 26 2010

On April 23, 2010, Connecticut Attorney General Richard Blumenthal gave written testimony during to a hearing held by the U.S. Senate’s Permanent Subcommittee on Investigations regarding the nation’s financial rating agencies.


NAIC provides details regarding upcoming hearing on stranger-owned annuities
  • Locke Lord LLP
  • USA
  • March 30 2010

The NAIC issued a press release earlier this month announcing its intent to hold a public hearing on the emergence of stranger originatedowned annuity transactions (“STAT”), but did not specify the date or location of the hearing.


Financial Services Authority (FSA) sets out concerns about traded life policy investments (TLPIs)
  • Locke Lord LLP
  • United Kingdom
  • March 3 2010

On 24 February 2010, Peter Smith, Head of Investments Policy in the Conduct Policy Division of the FSA, made a speech to the European Life Settlements Association clarifying its approach to TLPIs.