Sep 25, 2015 11:39:29 AM
On September 9th, the Deputy Attorney General, Sally Quillan Yates issued a memorandum to fellow prosecutors citing the DOJ’s focus on individuals responsible for corporate wrongdoing and the importance of holding them accountable. The memo outlines the importance of focusing on individuals from the inception of a civil or criminal investigation. Further, in order to take advantage of every remedy that the government has at their disposal, there needs to be and will continue to be consultation and collaboration between civil and criminal attorney’s. As such, and to no surprise there will be more parallel proceedings between both the DOJ and other regulatory agencies.
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Aug 18, 2015 2:19:35 PM
GARDEN CITY, NY - August 18th, 2015 - Business Insurance Magazine announced today the honorees for its third annual 40 Under 40 Broker Awards. Amongst those selected from a very competitive list of candidates was Iron Cove's Vice President, Gregory C. Sibilio, Esq.
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Jul 2, 2015 11:34:06 AM
Insurance Market Update
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Mar 18, 2015 5:41:40 PM
In July of 2013, the European Union's issued a directive aimed at Alternative Investment Fund Managers also known as the Alternative Investment Fund Managers Directive ("AIFMD"). The AIFMD requires AIFMs who market within the EU to hold either sufficient capital or have appropriate insurance in place to meet any financial loss arising from professional negligence claims related to their EU business or EU domiciled clients. This requirement can be satisfied with the AIF's own funds or they could procure insurance which is separate and not part of their existing insurance program (ring-fenced). Funds are required to carry .9% of total AUM in separate limits of professional liability (.7% for any one claim).
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Separate Limits of Liabilty
