Financial regulation

Two Vermonters voted as top captive insurance professionals in the world

Retrieved on: 
Thursday, May 11, 2023
Vermont Department of Motor Vehicles, General counsel, Farmer, International Center, United Shipping & Trading Company, Professional, DFR, AIG, Associate, Government, Gold, Division, Knowledge, Growth, Financial regulation, Region, Captive insurance, Farmers Business Network, Environment, National Risk Register, Legislation, Insurance, Management, Celanese

MONTPELIER, Vt., May 11, 2023 /PRNewswire-PRWeb/ -- The Captive Insurance Division of the Vermont Department of Financial Regulation (DFR) Deputy Commissioner of Captive Insurance Sandy Bigglestone, and Regional Managing Director – Americas for Aon Captive & Insurance Management Nancy Gray, were voted to top spots by their peers in Captive Review's Power 50 Awards earlier this year. According to the Captive Review, over 7,800 captive insurance professionals around the world submitted their nominations and nominees were then judged on how they best met the criteria of influence, innovation, visibility/accessibility, skill/ability, and how dedicated they are to helping the broader industry.

Key Points: 
  • They placed #3 and #1 in Captive Review's Power 50 Awards, which recognizes the world's top captive insurance professionals.
  • MONTPELIER, Vt., May 11, 2023 /PRNewswire-PRWeb/ -- The Captive Insurance Division of the Vermont Department of Financial Regulation (DFR) Deputy Commissioner of Captive Insurance Sandy Bigglestone, and Regional Managing Director – Americas for Aon Captive & Insurance Management Nancy Gray, were voted to top spots by their peers in Captive Review's Power 50 Awards earlier this year.
  • In 2022, Bigglestone was promoted to Deputy Commissioner of the Captive Division, leading Vermont's 30 captive insurance regulators.
  • Previously, she served as a director and treasurer of the International Center for Captive Insurance Education and as a director and treasurer of the Vermont Captive Insurance Association.

PROG Holdings, Inc. Appoints Todd King as Chief Legal and Compliance Officer

Retrieved on: 
Thursday, May 11, 2023
Other Retail, Banking, Online Retail, Technology, Professional Services, Payments, Retail, Software, Internet, Fintech, Finance, Chief, ERM, Financial regulation, NYSE, Government, PROG, Management

PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, and Four Technologies, announces that the Company’s Board of Directors has appointed Todd King as PROG Holdings’ Chief Legal and Compliance Officer, effective May 15, 2023.

Key Points: 
  • PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, and Four Technologies, announces that the Company’s Board of Directors has appointed Todd King as PROG Holdings’ Chief Legal and Compliance Officer, effective May 15, 2023.
  • As PROG Holdings’ Chief Legal and Compliance Officer, Mr. King will be responsible for overseeing the Company’s Legal, Compliance, Enterprise Risk Management (ERM), and Government Relations departments.
  • Mr. King served as the Company’s Chief Corporate Governance, Securities Law and M&A Counsel since January 2017, and his accomplishments included leading the legal function in the spin-off of the Company’s Aaron’s Business in 2020.
  • “Todd’s deep legal and business expertise coupled with the collaborative role he has had in our success make him a great choice to lead our Legal and Compliance efforts,” said PROG Holdings President and Chief Executive Officer Steve Michaels.

OTC Markets Group Welcomes BTQ Technologies Corp. to OTCQX

Retrieved on: 
Monday, May 8, 2023
Newton, OTCQX, Government, Financial regulation, NG3, NEO, BTQ, FRA, Security (finance)

NEW YORK, May 08, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced BTQ Technologies Corp. (NEO: BTQ; FRA: NG3; OTCQX: BTQQF), a global quantum technology company securing mission critical networks with post-quantum software and hardware, has qualified to trade on the OTCQX® Best Market.

Key Points: 
  • NEW YORK, May 08, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced BTQ Technologies Corp. (NEO: BTQ; FRA: NG3; OTCQX: BTQQF), a global quantum technology company securing mission critical networks with post-quantum software and hardware, has qualified to trade on the OTCQX® Best Market.
  • BTQ Technologies Corp. upgraded to OTCQX from the Pink® market.
  • BTQ Technologies Corp. begins trading today on OTCQX under the symbol “BTQQF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .
  • "We are excited to begin trading on OTCQX and share our story with a broader investment audience,” said Olivier Roussy Newton, CEO of BTQ.

RevoluGROUP Canada Inc. and Suitor Agree to Suspend Equity Investment Negotiations due to Augmented Professional Commitments of Mr. Marshall

Retrieved on: 
Monday, April 24, 2023
ACT, Memorandum of understanding, DBA, Policy, Uniloc USA, Inc. v. Microsoft Corp., Part, Acquisition, European Financial Stability Facility, Workload, Material, TSX, Financial regulation, Disclosure, News, Security (finance)

An untenable workload to which Mr. Marshall is currently subjected has resulted in an urgent director's resolution dated April 21st.

Key Points: 
  • An untenable workload to which Mr. Marshall is currently subjected has resulted in an urgent director's resolution dated April 21st.
  • Commencing March 17th, 2023, Mr. Marshall has struggled to combine a typical intense workload with augmented requirements emanating from Canadian capital markets regulators.
  • Faced with the above-unexpected reality, all parties agreed to suspend the equity investment negotiations for an initial term of up to one month ending at midnight on May 23rd, 2023.
  • The suspension period shall be subject to an automatic extension unless the underlying motives for Mr. Marshall's unavailability remain unchanged.

Highlights - Vote on on the updated EU Financial Regulation - Committee on Budgetary Control

Retrieved on: 
Friday, April 21, 2023
Financial Regulator, Financial regulation, Union, Committee, Budget, COVID19, EU

Vote on on the updated EU Financial Regulation

Key Points: 
  • Vote on on the updated EU Financial Regulation
    21-04-2023 - 11:30
    On 27 April 2023, the Committees on Budgets and on Budgetary Control will vote on the recast of the Financial rules applicable to the general budget of the Union.
  • The Financial Regulation lays down the principles and general financial rules for establishing and implementing the EU budget and controlling EU finances.
  • The recast mostly builds on the lessons learned from the COVID19 pandemic and focuses on crisis management, the protection of EU financial interests, and simplification.

Highlights - BUDG-CONT - Vote on the updated EU Financial Regulation - 27.04.2023 - Committee on Budgets

Retrieved on: 
Wednesday, April 19, 2023
Commission, Financial regulation, COVID-19, MFF, Union, Committee, Budget, EU

BUDG-CONT - Vote on the updated EU Financial Regulation - 27.04.2023

Key Points: 
  • BUDG-CONT - Vote on the updated EU Financial Regulation - 27.04.2023
    19-04-2023 - 15:09
    The Committees on Budgets and on Budgetary Control will vote on the recast of the Financial rules applicable to the general budget of the Union.
  • The Financial Regulation is the ‘single rulebook’ laying down the principles and general financial rules for establishing and implementing the EU budget and controlling EU finances.
  • On 16 May 2022, the Commission published its proposal for the revision, targeted to the MFF alignment and to specific improvements and simplifications that mostly build on the lessons learned from the COVID-19 pandemic and focus on crisis management, the protection of EU financial interests, and simplification.

TALG is pleased to announce a Securities Fraud Victory from the Las Vegas office

Retrieved on: 
Tuesday, March 7, 2023
District court, Security (finance), Lexmark International, Inc. v. Static Control Components, Inc., Financial regulation, Judgement, Bank statement, Master of Laws, Multimedia, LLM, Georgetown University, Cryptocurrency

IRVINE, Calif., March 7, 2023 /PRNewswire/ -- TALG is pleased to announce that the firm's Las Vegas office recently secured a $1,609,836.05 judgment from the United States District Court for the District of Nevada in a complex case involving securities fraud.

Key Points: 
  • IRVINE, Calif., March 7, 2023 /PRNewswire/ -- TALG is pleased to announce that the firm's Las Vegas office recently secured a $1,609,836.05 judgment from the United States District Court for the District of Nevada in a complex case involving securities fraud.
  • al., Enerkon Solar International Inc. ("Enerkon") sued numerous former shareholders of the corporation relating to securities fraud just days before the Securities and Exchange Commission ("SEC") issued an order suspending the trading of securities of Enerkon.
  • TALG is pleased that years of litigation resulted in a victory for its clients.
  • Marian Massey, a senior associate in TALG's Las Vegas office, also assisted in the preparation of the numerous motions that lead to the successful result.

Highlights - Exchange of views on the financial programming of the EU for 2024-2027 - 1-2.03.23 - Committee on Budgets

Retrieved on: 
Thursday, March 2, 2023
Financial regulation, MFF, Budget, Legislation, Article, Draft, Commission, EU

Exchange of views on the financial programming of the EU for 2024-2027 - 1-2.03.23

Key Points: 
  • Exchange of views on the financial programming of the EU for 2024-2027 - 1-2.03.23
    02-03-2023 - 17:51
    Every year, the Commission updates the financial programming for the remainder of the multiannual financial framework (MFF - the EU's long term budget), in accordance with the Article 41(2) of the Financial Regulation and the Interinstitutional Agreement accompanying the 2021-2027 MFF.
  • The financial programming update includes the changes resulting from the 2023 budget adopted at the end of last year, the impact of recently adopted or proposed legislation and the effect of transfers and amending budgets.
  • Crucially, the financial programming forms the basis of the Draft Budget 2024 and makes clear what resources are available to respond to emerging needs or for political priorities.

Vermont to conduct captive insurance trade mission in Mexico

Retrieved on: 
Wednesday, February 22, 2023
International Trade Administration, Small business, Secretary of State of Vermont, North American Leaders' Summit, Insurance, Risk, United States Commercial Service, Small Business Administration, Department of Economic Development, Government, Face, Economic development, U.S. Department of Defense Strategy for Operating in Cyberspace, Captive insurance, Corporate development, Financial regulation, U.S. Commercial Service in Taiwan, Commerce, COVID-19

MONTPELIER, Vt., Feb. 22, 2023 /PRNewswire-PRWeb/ -- The State of Vermont and the Vermont Captive Insurance Association (VCIA) will send a delegation of government, regulatory, and industry representatives to Mexico to highlight Vermont's leading captive insurance industry. The trade mission was originally planned for March 2020, but was delayed due to the COVID-19 Pandemic. The delegation will lead a captive insurance educational forum in Mexico City on March 1, 2023. The trade mission is a collaborative effort with the U.S. Commercial Service, the trade and promotion arm of the U.S. Department of Commerce's International Trade Administration, and Vermont's Department of Economic Development via its State Trade and Expansion Program, a program funded by the Small Business Administration.

Key Points: 
  • The mission is a collaborative effort to help highlight Vermont's leading captive insurance industry, encouraging companies from Mexico and around the world to take advantage of the benefits of captive insurance.
  • MONTPELIER, Vt., Feb. 22, 2023 /PRNewswire-PRWeb/ -- The State of Vermont and the Vermont Captive Insurance Association (VCIA) will send a delegation of government, regulatory, and industry representatives to Mexico to highlight Vermont's leading captive insurance industry.
  • "The trade mission is a great example of Vermont's mutually beneficial trade relationship with Mexico," said Governor Phil Scott.
  • "The goal of the trade mission is to raise awareness about Vermont as a leading domicile for captive insurance, no matter where in the world you are headquartered," said Sandy Bigglestone, Deputy Commissioner of Captive Insurance, Vermont Department of Financial Regulation.

AM Best Assigns Issue Credit Rating to United Educators Insurance, A Reciprocal Risk Retention Group’s Surplus Notes

Retrieved on: 
Tuesday, January 31, 2023
Insurance, Professional Services, Credit, AM, News, AM Best, ALL, Financial regulation, Credit rating, Growth, Risk management, Vermont Department of Motor Vehicles

AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the $60 million, 7.79% surplus notes due Jan. 31, 2043, issued by United Educators Insurance, A Reciprocal Risk Retention Group (United Educators) (Burlington, VT).

Key Points: 
  • AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the $60 million, 7.79% surplus notes due Jan. 31, 2043, issued by United Educators Insurance, A Reciprocal Risk Retention Group (United Educators) (Burlington, VT).
  • The surplus note issuance will result in unadjusted financial leverage of 15%, which is within AM Best’s guidelines for the company’s current rating.
  • The surplus notes are callable by United Educators after seven years, and may be made only with prior approval from the Vermont Department of Financial Regulation.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .