There never was much doubt that the regulatory reform
legislation being considered in the wake of the recent financial meltdown would
change the way in which the over-the-counter (OTC) derivatives business is
conducted going forward. From the outset, the Obama Administration proposed
Where are the market crisis cases is a long standing
question. There have been investigations. Some cases have been brought. Some
investigations have been closed. Still, the question remains - where are the
market crisis cases?
The Commission filed a new market crisis case. It may be
by Peter J. Green and Jeremy Jennings-Mares
Increased regulation of
derivatives has been a key element of international efforts to strengthen the
global financial regulatory framework. Following the bailout of AIG, primarily
due to its massive exposure under credit default swaps, the initial...
NEW YORK - (Mealey's) Bank of America Corp. (BoA) will
pay nearly $1.7 billion to MBIA Inc. and certain of its subsidiaries to settle
claims in New York State court that BoA misrepresented the investment quality
of and risk associated with certain mortgage-backed securities (MBS) it sold to
AIG has agreed to pay $960 million to settle the consolidated securities class action lawsuit that had been filed against the company and certain of its directors and officers in the wake of the company’s near collapse at the peak of the credit crisis. The settlement, which AIG disclosed in its...