Insurance
Top stories summarized by our editors
6/17/2015

The effort to protect financial markets from cyberthreats has been boosted by collaboration between the industry and government agencies. Experts at the SmartBrief Cybersecurity Forum cited information sharing as the area that has seen the most improvement. Federal legislation also stands to help market participants address privacy and liability concerns related to cybersecurity, the experts said.

3/16/2017

The Federal Reserve raised its benchmark interest rate to a range between 0.75% and 1%, its second rate hike in three months but only the third increase since the global financial crisis. Fed Chair Janet Yellen said the central bank will take a cautious approach to further rate increases because it isn't as optimistic about the growth ahead for the economy as some business executives and stock market investors.

3/20/2017

Funds sponsored by asset managers are going to come under close scrutiny from the Financial Stability Board, said Chairman Mark Carney. The FSB is looking at what funds can do to manage the risk of being hit by runs in times of market stress.

10/7/2015

Harvey Pitt, Christopher Cox and Mary Schapiro, all former heads of the Securities and Exchange Commission, said at an industry conference that the SEC should write and enact a fiduciary rule putting clients' interest first. "It doesn't matter what you are called; it matters what you do," said Pitt, chairman from 2001 to 2003. "If people are giving advice, they should be held to the same standards."

6/28/2017

Federal Reserve chief Janet Yellen told an audience in London that another financial crisis "in our lifetime" is unlikely and that banks are much stronger than before. Yellen also rejected calls to significantly ease financial regulations.

6/25/2015

Instead of using a new ratings system to rank colleges, the U.S. Department of Education says it will produce a website that will allow consumers to compare colleges in categories such as graduation and loan-repayment rates. Ted Mitchell, the undersecretary of education, suggested that the ratings-system project will give way this year to creating the consumer-oriented website.

10/8/2015

More than 100 US House Republicans signed a letter that gives Labor Secretary Thomas Perez until Oct. 21 to provide an explanation of how the department intends to make "substantial changes" to problems with its proposed fiduciary rule. The letter urges the department to give stakeholders a chance to review its revisions before sending the proposed final rule to the Office of Management and Budget.

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7/22/2015

U.S. Labor Secretary Thomas Perez told a Senate subcommittee he is pleased that debate about a proposal to improve retirement advice has changed from whether improvement is needed to how to put the idea into practice. "I am heartened by that shift," he said. "We welcome any and all suggestions on how to improve the proposal to ensure that it can be effectively implemented."

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Thomas Perez, Labor, Senate, Senate
6/28/2017

Securities and Exchange Commission Chairman Jay Clayton and Labor Secretary R. Alexander Acosta told lawmakers that they will cooperate on drafting a fiduciary rule for investment advice. Clayton said he wants to regulate investment advice in "a way that is coordinated so that our Main Street investors have access to investment advice and access to investment products."

9/25/2015

Rules governing public-company disclosure and crowdfunding are coming soon, said Mary Jo White, head of the Securities and Exchange Commission. However, a fiduciary rule is still a ways off, she said.