Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Regulatory Backlash at MassMutual? Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 21, 2005

Regulatory Backlash at MassMutual?

by: Theresa Sim

First Eliot Spitzer gets sued, and now MassMutual is fighting a subpoena by mini-Sptizer William Galvin. Is the era of heavy-handed state regulators coming to an end? Not quite, but at least one regulator is feeling a bit thwarted. The Boston Globe reports that the insurer filed a motion in Hampden Superior Court in response to a subpoena by Galvin for documents related to the dismissal of ex-CEO Robert O'Connell.

MassMutual argued in documents filed with the court that Galvin does not have the jurisdiction in the case, and that his subpoena is ''unnecessary and duplicates the investigations initiated by the commissioner of insurance and the attorney general, both of whom have clear jurisdiction."

Thomas F. Reilly, Massachusetts attorney general, and Insurance Commissioner Julianne M. Bowler are also investigating the O'Connell case.

The Globe also reported that MassMutual attorneys wrote in the motion that Galvin has ''insisted that he be permitted to conduct his own investigation first and has refused to coordinate with the attorney general to eliminate the needless burden of duplicate investigations."

''That's not true," Galvin said to Globe reporter Chris Reidy. ''The attorney general and I are cooperating."  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use