Stay updated with breaking news from Voting Securities. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
New York Department of Financial Services NYDFS Circular Letter No. 5 reminded industry acquiring less than 10% of insurer’s voting securities does not mean acquirer is not controller. NAIC’s Macroprudential E Working Group is studying, overseeing Project.
NY Department of Financial Services NYDFS issued Circular Letter No. 5, reminding owners of insurance companies acquiring less than 10% of company’s voting securities not safe harbor from regulatory prior approval. Board appointment, transactions result in NYDFS Oversight.