A financial regulatory reform law provision that would require issuers of asset-backed securities to hold on to at least 5% of the debt they issue is so broad that some market participants are warning the retention requirements could apply to certain municipal bond transactions
Richard Sigal of Hawkins Delafield & Wood LLP alerted treasurers meeting in Williamsburg to the provision and warned that applying it to municipalities would “not be consistent” with the way municipal issuers function
American International Group Inc.'s proposed $2.15 billion sale of its Taiwan life insurance unit was blocked by local regulators, setting back the U.S. insurer's effort to repay its $182.3 billion government bailout
A group led by Primus Financial Holdings Ltd. failed to convince the Financial Supervisory Commission it has the financial capability and long-term commitment to operate the business, Wu Tang-chieh, vice chairman of the regulator, said at a briefing in Taipei this week
