The Risk Management Blog
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Whether you like it or not, the Dodd-Frank Wall Street Reform and Consumer Protection Act is now law. Passed by the Senate finally last week and signed by President Obama yesterday, financial reform will have wide-ranging implications for the financial services sector (including the insurance industry), the rest of corporate America and, really, just the [...]
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It had to happen sometime. This morning it was announced that U.S. regulators have closed an investigation of AIG and some of its executives over the insurance giant’s near collapse that led to a $182 billion government bailout.
Let’s take a look at the timeline of many of the events surrounding the AIG disaster (with help [...]
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According to an internal investigation, 33 SEC employees or contractors have been watching porn on company time and company computers. Not only are these obvious and widespread violations of SEC policy — and hopefully, the policy of every company outside of that specific industry — but the transgressions all occurred at a time when the [...]
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The U.S. Foreign Corrupt Practices Act is not new. Founded in 1977, the act’s main mission has always been to curtail improper accounting practices by companies operating internationally and prevent bribes. Thus, the “corrupt” aspect. In many parts of the world, there is a thin line between a “gift” and a “bribe,” and this regulation [...]
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