Insurance News
Regulatory updates in plain English
Stay current with the latest from CMS, state departments of insurance, NAIC, the Federal Register, and Congress — rewritten so you can actually understand what it means for your practice.
Davie County woman accused of filing multiple false medical insurance claims
A woman from Davie County, Melissa Lynn Mountzoures, has been arrested for committing insurance fraud. She is accused of creating fake receipts for doctor visits that never happened and submitting them to Blue Cross and Blue Shield of North Carolina to get reimbursed. The total amount involved is ov...
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Extension of the Review Period of an Advance Notice, as Modified by Partial Amendment No. 1, To Establish a Guaranty Fund at the Government Securities Division
The Fixed Income Clearing Corporation (FICC) is making changes that affect how it manages its Clearing Fund. They will now need to keep this fund either in a bank account at a commercial bank that is federally insured or in an account at the Federal Reserve Bank of New York. If they choose the bank ...
Mandatory Electronic Filing (e-Filing)
The U.S. Department of Homeland Security has introduced a new rule that requires certain immigration benefit requests to be filed electronically. This change affects individuals applying for these benefits, as they will need to submit their requests online instead of using paper forms. There is a pr...
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of Proposed Rule Change, as Modified by Partial Amendment No. 1, To Establish a Guaranty Fund at the Government Securities Division
The Fixed Income Clearing Corporation (FICC) is making changes to its rules that will affect how it manages its Clearing Fund. From now on, FICC must keep this fund either in a bank account at a commercial bank that is insured by the Federal Deposit Insurance Corporation or in an account at the Fede...
Self-Regulatory Organizations; LCH SA; Notice of Filing of Proposed Rule Change Relating to the LCH SA CDS Clear Trade Registration Fund
LCH SA has made changes to its rules regarding the registration of trades in credit default swaps, which are financial contracts that protect against the risk of default on debt. These changes specifically update how 'stress losses' are defined to better match their financial resource policies. This...
Cboe Clear U.S., LLC; Notice of Filing of an Application, as Amended, for Temporary Registration as a Clearing Agency Under Section 17A of the Securities Exchange Act of 1934
Cboe Clear U.S., LLC has applied for temporary registration as a clearing agency, which affects broker-dealers who handle customer funds. They need to ensure they have the right permissions to manage these funds according to specific rules. Insurance companies and other financial entities may also b...
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Partial Amendment No. 1 and Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Partial Amendment No. 1, to Exempt Specified Collective Trust Funds From FINRA Rules 5130 (Restrictions on the Purchase and Sale of Initial Public Offerings) and 5131(b) (New Issue Allocations and Distributions)
The Financial Industry Regulatory Authority (FINRA) has proposed a rule change that would exempt certain collective trust funds (CTFs) from specific regulations regarding initial public offerings and new issue allocations. This change primarily affects the trustees or managers of these funds, allowi...
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of Proposed Rule Change To Modify the GSD Rules To Adopt a U.S. Treasury Clearing Trade Submission Requirement
The Fixed Income Clearing Corporation (FICC) has proposed a new rule that will require certain financial entities, including insurance companies and brokers, to submit U.S. Treasury trade information. This change affects all direct participants in the FICC's clearing services, which include banks an...
Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Consisting of Amendments to MSRB Rule G-28, on Transactions With Employees and Partners of Other Municipal Securities Professionals, To Harmonize and Better Align With FINRA Rule 3210, on Accounts at Other Broker-Dealers and Financial Institutions
The Municipal Securities Rulemaking Board (MSRB) has updated its rules to better match the Financial Industry Regulatory Authority (FINRA) guidelines. This change affects municipal securities professionals who handle accounts with other financial institutions, such as banks and insurance companies. ...
Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Advance Notice by The Options Clearing Corporation To Establish a Commercial Paper Program
The Options Clearing Corporation (OCC) has announced a new program that allows it to establish a Commercial Paper Program. This program will help OCC manage liquidity by using government securities from defaulting members or borrowed funds to engage in repurchase transactions with large institutiona...
Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Proposed Rule Change by The Options Clearing Corporation To Establish a Commercial Paper Program
The Options Clearing Corporation (OCC) is making changes to its rules that will affect how it manages liquidity in case a member defaults. They are introducing a Commercial Paper Program and a non-bank liquidity facility. This means OCC can use government securities from a defaulting member or the C...
Self-Regulatory Organizations; Long-Term Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
The Long-Term Stock Exchange has announced a new rule that sets fees for industry members related to past insurance costs for the Consolidated Audit Trail (CAT). This affects companies involved in the CAT, which is a system for tracking trades in the market. The total insurance cost was about $880,4...
Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to the Treasury Clearing Rules and Treasury Clearing Service Treasury Operations Policies and Liquidity Risk Management Framework
The rules for who can participate in Treasury clearing have changed. Now, Futures Commission Merchants (FCMs) and registered clearing agencies can also be approved as Treasury Participants, alongside broker-dealers, investment companies, banks, and insurance companies, as long as they meet specific ...
Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
Nasdaq MRX, LLC has announced a new rule that establishes fees related to the historical costs of insurance for the Consolidated Audit Trail (CAT). This change affects those involved in the National Market System, particularly in how they manage and report insurance costs. Insurance costs for CAT re...
Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
The National Exchange LLC has announced a new rule that establishes fees for industry members to cover certain historical costs related to the National Market System Plan. This includes $880,419 spent on insurance for the Consolidated Audit Trail (CAT) during a specific period. Starting in 2020, CAT...
Self-Regulatory Organizations; Long-Term Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related To Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for May 1, 2026 Through December 31, 2026
The Long-Term Stock Exchange has announced new fees for industry members related to the costs of the Consolidated Audit Trail (CAT) for the period from May 1, 2026, to December 31, 2026. These fees will cover necessary insurance costs, including cyber security liability, directors' and officers' lia...
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for May 1, 2026 Through December 31, 2026
The Nasdaq ISE has announced new fees for industry members related to the costs of maintaining the Consolidated Audit Trail (CAT) from May 1, 2026, to December 31, 2026. These fees will cover necessary insurance costs, including cyber security, directors and officers liability, and errors and omissi...
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rule 6897 (Consolidated Audit Trail Funding Fees) To Establish Fees for Industry Members Related to Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
The Financial Industry Regulatory Authority (FINRA) has made a change to its rules regarding fees for industry members related to the funding of the Consolidated Audit Trail (CAT). This change affects insurance companies and other financial industry members who are involved in the CAT system. Starti...