|New York Department of Financial Services Cyber Security Examination|
Rebecca S. Eisner, Lawrence R. Hamilton, Alex C. Lakatos, A. John P. Mancini, James R. Woods; Mayer Brown LLP;
February 26, 2015, previously published on December 11, 2014On December 10, 2014, the New York Department of Financial Services (NYDFS) issued a letter to banking institutions chartered or licensed in New York notifying them of an expansion of the NYDFS information technology examination procedures to focus on cyber security issues as an integral aspect of...
|Preparing for the 2015 US Proxy and Annual Reporting Season|
Robert E. Curley, Lawrence R. Hamilton, Michael L. Hermsen, Laura D. Richman, David A. Schuette; Mayer Brown LLP;
September 22, 2014, previously published on September 16, 2014It is time for calendar year-end public companies to focus on the upcoming 2015 proxy and annual reporting season.
|Enterprise Risk Reports Due Soon|
Lawrence R. Hamilton, Hilary Kang, Vikram Sidhu, James R. Woods, Nicole Zayac; Mayer Brown LLP;
March 19, 2014, previously published on March 17, 2014This is a friendly reminder that the deadline for filing enterprise risk reports is fast approaching in states that require them. While the due date varies by state, it is generally tied to the due date for the annual holding company registration statement, which is April 30 in most states...
|District Court Victory for Validus Re in Cascading FET Case Leaves Many Questions Unanswered|
David W. Alberts, Richard Craven, Lawrence R. Hamilton; Mayer Brown LLP;
February 11, 2014, previously published on February 7, 2014Judge Amy Jackson clearly sided with Validus Re in her February 5 opinion in Validus Re’s closely followed lawsuit in US federal district court in Washington, DC. Validus won a refund of the federal excise tax (FET) it had paid on nine reinsurance policies it purchased in retrocession...
|FIO Releases Its Long-Awaited Report Mandated by the Dodd-Frank Act|
David W. Alberts, Lawrence R. Hamilton, James R. Woods; Mayer Brown LLP;
December 17, 2013, previously published on December 13, 2013On December 12, 2013, the Federal Insurance Office (FIO) submitted to Congress and released a report entitled, “How to Modernize and Improve the System of Insurance Regulation in the United States.” The report was mandated by Title V of the Dodd-Frank Wall Street Reform and Consumer...
|UK -- Lloyd’s of London Publishes New Strategy for 2011-2013|
Lawrence R. Hamilton, Vikram Sidhu; Mayer Brown LLP;
December 21, 2010, previously published on December 21, 2010On 6 December 2010, Lloyd’s of London published its new strategy for the period of 2011-2013. The strategy document contains a plan for Lloyd’s major areas of activity for the next three years together with a specific one year plan of actions for 2011. Both elements are aimed at meeting...
|National Regulatory System Proposed for US Insurance Industry|
Lawrence R. Hamilton, Kenneth R. Pierce, Thomas J. Delaney, David R. Sahr; Mayer Brown LLP;
June 3, 2009, previously published on May 14, 2009Citing the ongoing economic crisis and the US government's bailout of American International Group, Inc. (AIG), Representatives Melissa Bean (D-IL) and Ed Royce (R-CA) have introduced the National Insurance Consumer Protection Act (H.R. 1880) ("NICPA" or the "Act") in the US...
|New York To Start Regulating Certain Types of Credit Default Swaps as Insurance|
Lawrence R. Hamilton, Joel S. Telpner, Charles M. Horn, J. Paul Forrester; Mayer Brown LLP;
October 9, 2008, previously published on September 24, 2008In a major departure from prior precedent, New York Governor David A. Paterson announced on September 22, 2008, that the New York State Insurance Department (the "Department") would start regulating certain types of credit default swaps (CDSs) as insurance.