Insurance dispute closer to resolution

Article Abstract:

US and Canadian regulators are approaching a resolution to their disagreement regarding a vital section of draft rules that Canadian mutual insurers will have to follow when they go public. Michigan deputy commissioner Chet Czubko reported that Michigan Insurance Commissioner E.L. Cox allowed his counterpart, Canada's Superintendent of Financial Institutions, John Palmer, to proceed with the rules, in a telephone conversation in early-November 1998. Although Czubko noted that not all the problems are solved yet, Michael Hale, director of the actuarial division of Palmer's office, reports that they are collaborating with the Michigan authorities to resolve any outstanding issues.

Comment:

Canada: US & Canadian regulators are nearing agreement on certain draft rules for mutual insurers that plan to go public

United States, Government regulation (cont), Insurance, Insurance Carriers and Related Activities, Article

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Complaint alleges Nortel issued 'misleading' material

Article Abstract:

A complaint, which is in the process of becoming a class-action lawsuit, has accused Brampton, Ont.-based Nortel Networks Corp. of releasing inaccurate data about its market position. The complaint, which was filed by New York, NY-based Milberg Weiss Bershad Hynes and Lerach L.L.P. and Wechsler Harwood Halebian and Feffer L.L.P., alleges that Nortel Networks made misleading statements about its financial results.

Legal issues & crime, Communications Equipment, Telecommunications Equipment, Communications Equipment Manufacturing, Cases, Telecommunications equipment industry, Telecommunications systems, Nortel Networks Corp., NT, Milberg Weiss Bershad Hynes & Lerach L.L.P., Wechsler Harwood L.L.P.

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