David Neustadt News
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The New York State regulator for MBIA Inc.’s insurance unit criticized the company for paying executives $11.4 million to stay on board for three more years.
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Ocwen Financial Corp., which won a $3 billion auction for Residential Capital LLC’s mortgage servicing business, must hire a monitor to review operations, New York’s banking regulator said.
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MBIA Inc. defeated a lawsuit by Bank of America Corp. and Societe Generale SA that sought to reverse approval of the bond insurer’s $5 billion asset-transfer because it cut money available to cover their policy claims.
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The U.S. Securities and Exchange Commission is writing new rules in the wake of Knight Capital Group Inc. losses that could turn longstanding policies for how exchanges manage their automated systems into regulations.
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Goldman Sachs Group Inc. persuaded a judge to dismiss Overstock.com Inc.’s lawsuit alleging the investment bank manipulated short sales of the online retailer’s stock from 2005 to 2007, causing the shares to fall.
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MBIA Inc. and BNP Paribas settled litigation challenging the bond insurer’s restructuring, according to the New York Department of Financial Services.
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Standard Chartered Plc might be asked to pay as much as $700 million to resolve money-laundering allegations filed by New York’s banking superintendent after his department grew impatient with inaction by federal regulators, a person familiar with the case said.
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New York regulators are looking into whether banks and insurers profit excessively from the insurance polices they require homeowners to pay for when their original coverage lapses, the Wall Street Journal reported.
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Financial Guaranty Insurance Co. said it has consented to a proceeding in which New York’s insurance regulator will take over the bond insurer.
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U.S.-listed energy and mining companies must report what they pay each country in which they tap resources in a rule adopted by the Securities and Exchange Commission.
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