The Financial Services Authority has fined a subsidiary of Willis Group Holdings more than $11 million for failure to institute proper controls in its anti-bribery and corruption systems.

The Financial Stability Oversight Council will soon issue new proposed guidance on the criteria it will use to determine which financial firms are systemically significant, the deputy Treasury secretary told Congress yesterday.

A woman filed a fraudulent auto claim in order to obtain a rental car for her boyfriend to use in a drive-by shooting.

Zurich Financial Services Group says it has signed a definitive agreement with Banco Santander SA to buy a majority interest in the bank’s Latin America insurance operations.