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Allianz US unit ordered to pay $6 billion in securities fraud case

by AIP Online Bureau | Jul 13, 2023 | International News, Non-Life, Regulation

US District Judge Colleen McMahon imposed the sentence Wednesday in Manhattan on Allianz Global Investors US, which had agreed to the payout last year when it pleaded guilty to a single criminal charge of securities fraud as part of a deal with federal prosecutors. It...

US to decide whether to OK GM self-driving car deployment plan

by AIP Online Bureau | Jul 13, 2023 | Eco/Invest/Demography, International News, Non-Life, Risk Management, Technology

The petition filed in February 2022 seeks government approval to deploy vehicles annually without steering wheels, mirrors, turn signals or windshield wipers A top U.S. auto safety official said Wednesday regulators will soon decide on a petition filed by General...

China issues temporary rules for generative AI services

by AIP Online Bureau | Jul 13, 2023 | Eco/Invest/Demography, International News, Regulation, Risk Management, Technology

The Cyberspace Administration of China, which released the set of rules on its website, said that service providers will need to conduct security assessments and perform algorithm filing procedures before product launches. The measures will go into effect on Aug. 15...

Russia’s flagship crude oil surpasses G-7 price cap for first time

by AIP Online Bureau | Jul 13, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance

For some buyers of the Russian flagship crude, the breaching of the cap poses an immediate headache. This is especially true in India, a market that has sustained Russian exports but where some purchasers are still reliant on key Western services to keep imports...

UK polluters to face unlimited fines to protect environment

by AIP Online Bureau | Jul 13, 2023 | Eco/Invest/Demography, International News, Regulation, Risk Management

“We are scrapping the cap on civil penalties and significantly broadening their scope to target a much wider range of offenses – from breaches of storm overflow permits to the reckless disposal of hazardous waste,” Environment Secretary Thérèse Coffey said Polluters...
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