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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Insurance Giants May No Longer Be 'Too Big to Fail'
Insurance stocks rose sharply Thursday as a memo circulated by Rep. Jeb Hensarling (R-TX) said proposed legislation would no longer deem those companies "too big to fail."
In the years after the financial crisis, the Financial Stability Oversight Council, a consortium of regulators, labeled AIG, MetLife and Prudential as "systemically important" to the economy. But Hensarling's memo, obtained by CNBC, listed among other things a commitment to "remove remaining nonbank SIFI references." [“Systemically Important Financial Institution”] Large banks, it appears, would still fall into that category.
It's unclear what provisions laid out by Hensarling will survive the Senate and avoid the cutting-room floor, but the memo crystallized for investors a priority - for now - to give these three insurers a boost.
