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Daily Archives: Friday, January 23, 2015

Posted: January 23, 2015

SEC Administrative Order Insufficient to Establish Dishonesty Triggering Insurance Policy Dishonest Acts Exclusion

On January 15, 2015, the First Department issued a decision in J.P. Morgan Securities Inc. v. Vigilant Insurance Co., 2015 NY Slip Op. 00462, holding that an SEC administrative order, arising from an investigation of improper “market timing” by Bear Stearns, did not constitute an “adjudication” of wrongdoing sufficient to trigger a Dishonest Acts Exclusion… Read more »