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3.5 year – 2.20%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-10-20. Click on the link above to get more details or apply online.
40 days – 2.75%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 0000-00-00. Click on the link above to get more details or apply online.
Insurer AIG to pay $35M fine to New York to resolve licensing probe of 2 subsidiaries
– canadianbusiness.com
ALBANY, N.Y. – Insurance company American International Group Inc. has agreed to pay New York state $35 million to settle claims that two former subsidiaries did business without licenses and misled regulators about their operations in the state.
The deal was announced Friday by the state Department of Financial Services. It comes after a $60 million settlement in March with MetLife, which purchased the subsidiaries from AIG.
Authorities had alleged subsidiaries American Life Insurance Co. and Delaware American Life Insurance Co. sought customers in New York without licenses and without telling regulators.
Under the settlement, AIG will drop a legal challenge to the state’s probe and the state will not proceed with charges or a lawsuit.
AIG says it agreed to the settlement to avoid the expense and distraction of litigation.
The post Insurer AIG to pay $35M fine to New York to resolve licensing probe of 2 subsidiaries appeared first on Canadian Business.
The deal was announced Friday by the state Department of Financial Services. It comes after a $60 million settlement in March with MetLife, which purchased the subsidiaries from AIG.
Authorities had alleged subsidiaries American Life Insurance Co. and Delaware American Life Insurance Co. sought customers in New York without licenses and without telling regulators.
Under the settlement, AIG will drop a legal challenge to the state’s probe and the state will not proceed with charges or a lawsuit.
AIG says it agreed to the settlement to avoid the expense and distraction of litigation.
The post Insurer AIG to pay $35M fine to New York to resolve licensing probe of 2 subsidiaries appeared first on Canadian Business.
Gov. Malloy says financial services giant UBS will remain in Connecticut through 2021
– canadianbusiness.com
STAMFORD, Conn. – Gov. Dannel P. Malloy says financial services giant UBS has committed to remaining in Connecticut through 2021.
The Democrat announced Friday that UBS and the state have amended their partnership agreement. It provided UBS with a $20 million loan that was fully forgivable if the company maintained 2,000 jobs for five years. Under the amended arrangement, the same $20 million loan will be forgiven, but the percentage of forgiveness will be based on the number of jobs retained annually, through 2021.
Economic Development Commissioner Catherine Smith said if the number of jobs declines, a portion of the loan must be repaid. She called the new formula “a win-win proposition.”
Malloy recently cast doubt that UBS, with offices in Stamford, would keep the 2,000 jobs through the end of 2016.
The post Gov. Malloy says financial services giant UBS will remain in Connecticut through 2021 appeared first on Canadian Business.
The Democrat announced Friday that UBS and the state have amended their partnership agreement. It provided UBS with a $20 million loan that was fully forgivable if the company maintained 2,000 jobs for five years. Under the amended arrangement, the same $20 million loan will be forgiven, but the percentage of forgiveness will be based on the number of jobs retained annually, through 2021.
Economic Development Commissioner Catherine Smith said if the number of jobs declines, a portion of the loan must be repaid. She called the new formula “a win-win proposition.”
Malloy recently cast doubt that UBS, with offices in Stamford, would keep the 2,000 jobs through the end of 2016.
The post Gov. Malloy says financial services giant UBS will remain in Connecticut through 2021 appeared first on Canadian Business.
90 days – 2.00%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2014-10-06. Click on the link above to get more details or apply online.
