The Wisconsin Office of the Commissioner of Insurance (OCI) today obtained confirmation of its Plan of Rehabilitation for the Segregated Account of Ambac Assurance Corporation (”Segregated Account”) in Dane County Circuit Court in Wisconsin.
“We look forward to implementing the Plan for the benefit of all policyholders,” said Commissioner Ted Nickel.
The Plan maximizes claims-paying [...]

InvestTech Systems Consulting, Inc., the leading technology and operations consultants for institutional investment managers, successfully advised and assisted a leading Super Regional Bank with the implementation of a trading and compliance system. InvestTech was involved with implementing Bloomberg’s Asset and Investment Manager (AIM) for fixed income products including Agencies, Corporates, Municipals, Repos, Asset-backed and Mortgage-backed [...]

Attorney Advertising. Stull, Stull & Brody announced today that it has commenced an investigation relating to the 401(k) defined contribution retirement plan of Wilmington Trust Corporation (“Wilmington Trust” or the “Company”). Among other things, Stull, Stull & Brody is investigating whether fiduciaries of the Wilmington Trust Thrift Savings Plan, a 401(k) plan, may have violated [...]

Allstate Corp has sued Bank of America Corp, its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from Countrywide.
Allstate, the largest publicly traded U.S. home and auto insurer, alleged it suffered “significant losses” after Countrywide misled it into believing the securities [...]

As part of its commitment to educate participants, plan sponsors, and advisors, MassMutual’s Retirement Services Division has published a white paper entitled “Roth Retirement Plan Conversions – Questions and Answers.” Effective September 27, 2010, the President signed into law the Small Business Jobs Act of 2010 allowing participants who are in a retirement plan that [...]

MicroCapsDaily.com, a leading authority for micro cap research, provides in-depth due diligence and analysis of stocks in every sector of the market. MicroCapsDaily Investment Stock Report’s primary mission is to anticipate which small cap and micro cap companies are on the verge of explosive movement and alert our valued subscribers with actionable market intelligence. When [...]

HealthEdge, provider of the only modern, enterprise-class software platform for healthcare payors, announced that Tacoma-based BenefitMD has selected the HealthRules product suite as their next-generation claims and benefit administration, business intelligence, and portal platform. The HealthRules software will be used to power the next phase of BenefitMD’s rapid business growth.
What makes HealthRules different from any [...]

GlobalBridge,a Minneapolis-based provider of separately managed accounts for trust banks and wealth advisors, announced the selection of Pelorus Advisors as its exclusive provider of hedge fund operational due diligence.
Kelly Coughlin, CEO of GlobalBridge said, “Operational transparency and hedge funds are two terms we seldom see together. GlobalBridge has always insisted on full operations [...]

Olympus Managed Health Care Inc. a leading provider of health care claims administration and cost containment services, announced the appointment of Robert Lavers as Senior Consultant. In this newly created role, Mr. Lavers will have overall responsibility for the firm’s business development and expansion initiatives throughout Asia.
“We are very pleased to have Bob join our [...]

Health Net of the Northeast, Inc., a subsidiary of Health Net, Inc. announced that the National Committee for Quality Assurance (NCQA) has awarded an accreditation status of “Excellent” for service and clinical quality for Health Net of the Northeast’s commercial line of HMO and POS products in Connecticut, New Jersey and New York. The accreditation [...]