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15 Apr 2024, 9:01 pm by renholding
While Custodia is subject to state prudential regulation, it is not FDIC-insured or subject to federal prudential regulation and does not have a holding company subject to Federal Reserve oversight. [read post]
11 Apr 2024, 3:25 am by Patrick Bracher (ZA)
[Moruo Life Limited v The Prudential Authority, The Financial Services Tribunal case no PA2/23 (8 March 2024)] Decision – Moruo Life Ltd v The Prudential Authority.pdf (fsca.co.za) [read post]
3 Apr 2024, 9:03 pm by renholding
Since I gave that speech, a particularly pernicious weed has sprung up in the secret garden: Staff Accounting Bulletin (“SAB”) 121 and related guidance.[2] The Office of the Chief Accountant (“OCA”) prepared the SAB without the input of the full Commission, but, as with other SABs, staff follows SAB 121 in administering the disclosure requirements of the federal securities laws.[3] SAB 121 directs public companies that safeguard crypto assets for clients to put a… [read post]
16 Feb 2024, 5:35 am by Andrew Lavoott Bluestone
” “As alleged in plaintiff’s amended complaint, the claims against Tower B in the underlying action were covered by a $3 million primary insurance policy issued to Tower B by ACE American Insurance Company which was reinsured by ACE INA Overseas Insurance Company Limited (ACE INA). [read post]
APRA was also active in November, releasing quarterly reports on statistics on superannuation products and private health insurance, and publishing a number of amendments and proposed amendments to prudential standards, reporting standards and FAQs. [read post]
After graduating from Rutgers University, I worked as an account manager in group insurance at Prudential Financial for 9 years. [read post]
Currently, the rules on outsourcing for banks, payment institutions and EMIs do not apply when such financial institution outsources activities to a company within the same group (intra-group outsourcing). [read post]
– maintain a board diversity policy that addresses gender, skills and experience, and any other relevant aspects of diversity; and – describe in its annual report its board diversity policy, including the following: – i) the company’s targets to achieve diversity on its board;– ii) the company’s accompanying plans and timelines for achieving the targets;– iii) the company’s progress towards achieving the targets within the… [read post]
The Australian Prudential Regulation Authority (APRA) has finalised Prudential Standard CPS 230 (Operational Risk Management) (CPS 230) following a year-long industry consultation. [read post]
13 Nov 2023, 9:05 pm by renholding
On November 3, 2023, the 10 voting members of the Financial Stability Oversight Council (“FSOC” or “Council”)[1] voted unanimously to finalize (1) amendments to its existing interpretive guidance (“2019 Interpretive Guidance”)[2] governing the designation of nonbank financial companies for supervision by the Federal Reserve Board and application of prudential standards (“Interpretive Guidance”)[3]and (2) an “analytic… [read post]
Meanwhile, APRA announced various new and proposed updates to its prudential standards and commenced consultation on a range of proposed improvements to the effectiveness of Additional Tier 1 capital instruments (Hybrid Bonds) for use in potential bank stress scenarios. [read post]
25 Oct 2023, 9:01 pm by renholding
 The Barr Report concluded that SVB’s failure was primarily the result of mistakes made by SVB’s “senior management … to manage basic interest rate and liquidity risk” and the lack of effective oversight by SVB’s board of directors.6 A recent report by a group of bank regulatory experts at the Center for Financial Stability led by Sheila Bair (CFS Report), the Chair of the Federal Deposit Insurance Corporation (FDIC) during the 2008 Great… [read post]
10 Oct 2023, 9:01 pm by renholding
While significantly bounded by disclosure and prudential regulations, this remains an animating feature and a significant part of the basic structure of free markets. [read post]
Recounting the early days of his career, after graduating from Rutgers University, Andrews spent nine years working as an account manager in group insurance at Prudential Financial before moving into his first DEI role at Bristol-Myers Squibb in 2002. [read post]
Recounting the early days of his career, after graduating from Rutgers University, Andrews spent nine years working as an account manager in group insurance at Prudential Financial before moving into his first DEI role at Bristol-Myers Squibb in 2002. [read post]
26 Sep 2023, 6:39 am by Maria Ross (UK) and Clare Douglas
Background and Proposals The MA is a tool by which insurers may take credit upfront for part of the expected returns on investment assets, where such assets are used to closely align with insurers’ long-term liabilities. [read post]
11 Sep 2023, 10:00 am by Ortiz Law Firm
Because of her employment with Bonne Bell, Maher was covered under a long-term disability plan administered by Prudential Insurance Company of America, et al (“Prudential”). [read post]
9 Aug 2023, 9:01 pm by renholding
Although the stated intent of the G-SIB Proposal is to improve the “precision of the G-SIB surcharge,” the changes to the calculation of the cross-jurisdictional activity indicator to include derivatives exposures would cause nine banking organizations or their intermediate holding companies to shift into Category II from Categories III and IV for purposes of the enhanced prudential standards. [read post]
The prudential regulator also released its quarterly suite of insurance and superannuation statistics, as well as published its report on trends in affordability and availability of insurance products. [read post]