Regulation News

RSS

News coverage of insurance industry and financial advisor regulation.

More Stories

–A New York judge asked former President Trump to pipe down after he grew animated while a witness testified against him in his civil fraud trial. Judge Arthur Engoron issued the warning after Trump threw his hands up in frustration and conferred with his lawyers during real estate appraiser Doug Larson's second day of testimony, according to The Associated…

SAN DIEGO– Christopher Toups, who at the time of his crimes was a chief petty officer in the U.S. Navy, was sentenced in federal court to 30 months in prison after admitting that he and others defrauded an insurance program meant to compensate service members who suffer serious and debilitating injuries while on active duty. According to a press release from the…

Catherine Skidmore, 56, of Meridian, was sentenced Friday to 41 months in federal prison for a wire fraud and money laundering scheme in which she embezzled from the Black Canyon Irrigation District. District Judge Amanda K. Brailsford was announced by U.S. Attorney Josh Hurwit. According to court records, beginning in May 2019 and continuing to July 2022,…

—Donald Trump will be back in court Tuesday for his New York civil fraud trial, but a face-to-face showdown with former lawyer and fixer Michael Cohen will have to wait. Judge Arthur Engoron said Monday that the earliest Cohen can now testify is Oct. 23. Cohen’ s absence is scrambling the trial schedule in its third week, forcing the New York attorney general's office…

RUTLAND- A Chittenden County man, who made international news when he stole five Teslas valued at over $600,000 in 2018 and 2019, was sentenced in federal court in Rutland on Wednesday to 48 months in prison. Michael A. Gonzalez, 34, fraudulently obtained the five Teslas valued at about $607,000 from car dealerships in New York, New Jersey, Massachusetts and…
Image shows the SEC logo with two hands showing thumbs down.
The SEC has released comments on its new rule: Conflicts of Interest Associated with the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers.

A Securities and Exchange Commission rule attempting to address conflicts of interest created by use of predictive data analytics could stifle access to much-needed retirement products, industry groups say.

Nancy Marks admitted she conspired with Santos to falsify Federal Election Commission filings to make it look like he got enough donor cash to qualify for financial and logistics support from an unnamed national campaign committee. Santos, 35, was initially indicted in May on wire fraud, money laundering, theft of public funds and making false statements to…

NEW YORK— Donald Trump's convicted finance chief, Allen Weisselberg, returned to the witness box Tuesday– this time, to face a grilling by the New York attorney general's office about exaggerating his ex-boss's bank balance by billions. Judge Arthur Engoron has already determined that Weisselberg, Trump, his sons and ex- Trump Org controller Jeff McConney…
Image shows the words Brookfield against a faded photo of a life insurance application.
Brookfield faces questions over how it is treating life insurers it purchased.

Financial reporting documents by Brookfield Asset Management Reinsurance and an insurer it acquired last year are raising renewed questions about private equity control over policyholder funds.

Jonathan Vincent Glenn, age 54, of Greenwich, waived his right to be indicted and pleaded guilty late last week in Hartford federal court to defrauding investment clients through a "cherry-picking" securities scheme. Glenn's plea and details in the case were announced on Friday, Oct. 6 by Vanessa Roberts Avery, United States Attorney for the District of…