Securities Regulation
New York Hedge Fund Launches Bermuda Reinsurer
Sandell Asset Management Corp., the activist hedge-fund firm run by Tom Sandell, started a Bermuda-based reinsurer to support its investing strategy. Sandell Re will rely on the hedge fund to oversee ...
Monetary Incentives Don’t Prompt Whistleblowing; Protections Do
New research from North Carolina State University and Bucknell University finds that strong, reliable anti-retaliation policies can encourage employees to notify internal authorities of possible ...
U.S. Currency-Rigging Lawsuit to Proceed Against 12 Big Banks
A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market. U.S. District ...
The Number of Securities Fraud Class Action Lawsuits Is Dropping
The size of federal class action lawsuits accusing companies of securities fraud has dropped significantly, new studies show, as the bull market in stocks approaches its sixth birthday. Losses ...
Morgan Stanley Says Employee Stole Wealth Management Client Data
Morgan Stanley said on Monday it had fired an employee who allegedly stole account information from about 350,000 of its wealth management clients and posted some of it online. There is no evidence ...
Aon Benfield Cites 2014 as Record for Property Catastrophe Bond Issuance
Total property catastrophe bond issuance for 2014 stood at $8.03 billion as of Dec. 12, a new record for annual insurance-linked securities, Aon Benfield Securities said. That new milestone hit with ...
AXIS Capital Holdings’ Board O.K.’s New $750M Share Repurchase
AXIS Capital Holdings Ltd. plans to repurchase $750 million in its common shares over the next two years, adding to an already sizable buyback of a few billion dollars worth of shares. The ...
SEC, CFTC Penalties More Than $92M Greater With Whistleblower Tipoffs
Promoting and maintaining financial fraud whistleblower programs, such as those of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), is costly. Cases ...