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Stock Market & Financial Investment News

News Breaks
March 31, 2014
13:21 EDTMETMetLife to pay $60M in fines for unlicensed insurance sales
Benjamin M. Lawsky, Superintendent of Financial Services, announced that MetLife will pay $60M for Insurance Law and other violations at its subsidiaries ALICO and DelAm, which it acquired from AIG in 2010. Investigations by the New York State Department of Financial Services, DFS, and the Manhattan District Attorney’s Office uncovered that those subsidiaries solicited insurance business in New York without a license and made intentional misrepresentations and omissions to the Department about those activities. Of the $60M, a $50M fine will be paid to DFS and $10M will be paid to the Manhattan District Attorney’s Office. MetLife has also agreed to fully cooperate with DFS’s investigation concerning Insurance Law violations by AIG, ALICO, and DelAm, and other AIG subsidiaries and affiliates related to conduct prior to MetLife’s acquisition. That investigation remains ongoing and is not resolved. Reference Link
News For MET From The Last 14 Days
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November 13, 2014
12:26 EDTMETKoch Industries reports new Colfax stake in quarterly filing
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November 12, 2014
09:36 EDTMETInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
November 10, 2014
07:44 EDTMETMetLife could challenge SIFI designation, WSJ reports
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07:08 EDTMETCredit Suisse to hold a conference
2014 Boston Financials 1:1 Conference to be held in Boston on November 10-11.

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