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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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August 20, 2014
14:39 EDTMETMetLife nearing 'systemically important' designation, WSJ reports
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August 14, 2014
17:27 EDTMETAppaloosa gives quarterly update on stakes
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August 12, 2014
09:03 EDTMETMetLife acquires The Loop
MetLife announced that the company has acquired The Loop, a 435,000 square foot outdoor retail center in Kissimmee, Florida. MetLife bought the complex from an institutional client of AEW Capital Management.
08:18 EDTMETAs MetLife awaits SIFI decision, other non-banks get tough scrutiny, FT says
The Federal Reserve's scrutiny of AIG (AIG) and GE Capital (GE) since those non-banks were designated as systemic risks shows they are being regarded in the same manner as large banks, according Financial Times, citing people familiar with the process. Insurer Prudential Financial (PRU) was deemed a systemic risk last September and rival MetLife (MET) is waiting to see if it will be designated this year, the report noted. Reference Link
August 7, 2014
14:04 EDTMETMetLife agrees to pay $23M to settle blast-faxing litigation, WSJ says
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