The U.S. health regulator ordered painkiller makers to provide educational materials to help train physicians about the correct use of the drugs, as part of the Obama administration’s plan to tackle prescription drug abuse. Get the full story »
Filed under: Regulations
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Banks, SEC in talks to settle mortgage charges
The Securities and Exchange Commission is in talks with major Wall Street banks to settle fraud allegations relating to the sale of toxic mortgage bonds to various investors that helped unleash the financial crisis, the Wall Street Journal reported, citing sources familiar with the matter. Get the full story »
Bank regulators propose swap rules
Energy companies, airlines and other end-users would be mostly exempt from having to put up costly collateral when using uncleared swaps to hedge their business risks, under a proposal issued by U.S. bank regulators on Tuesday. Get the full story »
JPMorgan’s Dimon got $20.8 million in 2010
Jamie Dimon, center, chairman and chief executive officer of JPMorgan Chase & Co. (Tim Boyle/Bloomberg News)
Jamie Dimon, Chief Executive Officer of the second-largest U.S. bank by assets, saw his total compensation rise to $20.8 million in 2010, according to a regulatory filing by JPMorgan Chase & Co.
He received only $1.3 million in total compensation in 2009, according to the filing. Get the full story »
NYSE unswayed by Nasdaq bid
NYSE Euronext believes that any kind of merger with Nasdaq OMX — whether the Big Board were the buyer or the seller — makes little strategic sense, and antitrust regulators would block it, according to a source close to the company.
FDA wants more food places to list calories
The Food and Drug Administration, which has proposed posting calorie information at chain restaurants and on vending machines, suggested a broader mandate Friday afternoon, to include airplanes, bowling alleys and other places where food is sold. Get the full story »
SEC mulls rules on compensation committees
U.S. securities regulators proposed rules Wednesday that would require publicly listed companies to have independent compensation committees and make key disclosures about their use of compensation consultants. Get the full story »
Firms to pay $1M to settle salvaged-cab case
Taxis move across Van Buren Street in downtown Chicago, Jan. 3, 2011. (Terrence Antonio James/Chicago Tribune)
By John Byrne | Taxi companies have agreed to pay the city of Chicago more than $1 million in fines and to upgrade their fleets after the city accused them of illegally using rebuilt or salvaged vehicles as cabs.
As part of a settlement, cab mogul Simon Garber and his business partners agreed to pay $839,320 in fines and court costs for using 183 salvaged or rebuilt vehicles as taxicabs in violation of a city ordinance, according to a press release from the city Department of Business Affairs and Consumer Protection. Get the full story »
New mortgage-backed securities rules unveiled
U.S. bank regulators on Tuesday unveiled a proposal to overhaul the market for securities backed by mortgages and other assets, a piece of the financial system battered by the recession and financial crisis. Get the full story »
BATS to list public shares, challenging NYSE
BATS Global Markets plans to list U.S. public stocks by year end, opening the door for companies to float shares somewhere other than the Big Board or Nasdaq for the first time in years. Get the full story »
March 28 at 1:09 p.m.
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Filed under: Beverages, Food, Government, Litigation, Regulations New beer-label bout brewing in Michigan
(Image via Flying Dog)
A Maryland brewery is accusing Michigan’s liquor commission of censorship after the panel rejected labels for a beer that features an expletive in the name.
Flying Dog Brewery has filed a federal lawsuit in Grand Rapids asking that a judge override the commission’s decision to reject labels for “Raging B—-” beer and allow the brew to be advertised and sold in Michigan. Get the full story »
SEC seeks rules to protect against ‘flash crash’
The top U.S. securities regulator wants new rules to help protect exchanges and other trading venues from computer-generated volume spikes and hackers seeking to harm the country’s capital markets. Get the full story »
FDA ruling clears tobacco lozenges for sale
Tobacco maker Star Scientific Inc. said Wednesday that the Food and Drug Administration has informed it that two of its dissolvable tobacco lozenges aren’t covered by the law regulating tobacco, clearing the way for them to be marketed. Get the full story »
France fines Google over Street View data grab
France’s online privacy watchdog said Monday it has fined Google Inc. 100,000 euros, or around $144,000, for unfair data collection from wireless networks through the company’s Street View mapping service and localization program Latitude.
Last May, Google disclosed that the camera-equipped cars it uses to take pictures for Street View, which has provided panoramic views of city streets since it was launched in 2007, had for several years inadvertently collected personal data from unsecured wireless networks across the world. The revelation prompted scrutiny from authorities in a number of countries, including France and the United Kingdom. Get the full story »
China misses deadline on piracy ruling
China has missed a deadline to comply with a World Trade Organization ruling against restrictions on foreign companies distributing copyright-intensive goods including books, newspapers, films, DVDs and music, U.S. movie and music groups said Monday. Get the full story »
