The Securities and Exchange Commission has notified former General Reinsurance Corp chief executive Ronald E. Ferguson, that he could face civil charges as a result of an inquiry into deals involving improper accounting, GenRe parent Berkshire Hathaway Inc. said.
Mr. Ferguson, who quit his post Oct. 1, 2001, was given an SEC Wells notice informing him that its staff is considering a recommendation that he be charged with securities violations. Under Wells provisions the target of the notice may respond before SEC staff makes its recommendation.
Mr. Ferguson is the fourth former or current GenRe executive to receive a Wells notice. Last month, Berkshire said Gen Re's current CEO, Joseph Brandon; a senior vice president, Robert Graham; and a retired Gen Re senior vice president, Christopher Garand, also had received Wells notices.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
