Marsh &amp; McLennan drops fees
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NEW YORK - A day after sacking its chief executive, Marsh &amp; McLennan (MMC) announced Tuesday it will stop accepting fees at the heart of a lawsuit by New York&#39;s attorney general accusing the world&#39;s largest insurance broker of rigging prices.
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MARSH &amp; McLENNAN, the worldâs biggest insurance broker, was last night facing a potentially crippling downgrade of its credit rating by Standard &amp; Poorâs, after its borrowing power was all but frozen by its bankers.
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Two major insurance companies named in the New York attorney general&#39;s investigation into questionable sales practices have discontinued the use of incentive fees, which are at the center of the probe.
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Marsh & McLennan Cos. MMC.N, on  Tuesday said it will stop accepting fees at the heart of a  lawsuit by New York's attorney general accusing the world's  largest insurance broker of rigging prices.
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Marsh & McLennan Cos. MMC.N, the  world's largest insurance broker, said on Tuesday it would  reform its business practices and stop accepting fees at the  center of an investigation by New York Attorney General Eliot  Spitzer into bid rigging.
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Charles Schwab Corp. , the largest U.S. discount brokerage, has halved the level of assets that clients need to avoid paying some fees.
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Marsh and McLennan Companies, Inc. the world&#39;s biggest insurance broker, announced a radical overhaul of its business practices after learning it would not face criminal charges for allegedly deceiving its customers.
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A day after coming under regulatory fire for taking incentive fees from insurers, the Marsh & McLennan Companies said that it would halt the practice.
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Marsh &amp; McLennan  posted a bigger-than-expected drop in quarterly profit as it digested higher costs and hefty restructuring charges.
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The Securities and Exchange Commission is closing in on the last of a series of reforms to protect mutual fund investors. One involves the fee charged to investors to pay for marketing and distribution of fund shares, called a 12b-1 fee.
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Marsh & McLennan Cos. revealed what's  at stake in the probe into its behavior by New York Attorney  General Eliot Spitzer, saying it generated $845 million of fat  fees from a practice at the center of a bid-rigging scandal.
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Marsh & McLennan Cos. MMC.N, the  world's largest insurance broker, on Tuesday said it will  reform and stop accepting fees that New York's attorney general  said amounted to bid-rigging.
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Embattled insurance broker&#39;s banks agree to waive clause that may have prevented access to credit. NEW YORK  - Marsh &amp; McLennan Cos.
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Marsh and McLennan is looking to collect about $230 million in incentive fees at the heart of a bid-rigging probe. The company says it will put the fees into a separate account to be used as
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December 23, 2004 -- Marsh &amp; McLennan Cos., the world&#39;s largest insurance broker, said the Securities and Exchange Commission is investigating the stakes that directors, officers, and shareholders have in the company&#39;s buyout funds.
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Marsh & McLennan Cos. MMC.N on  Monday agreed to pay $850 million to settle charges it  conspired with insurers to rig bids, raising hopes the world's  biggest insurance broker can start moving past the scandal.
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Sprint is canceling some fees it charges to cover its own costs and replacing them with other âregulatoryâ and âadministrativeâ fees. The money goes to Sprint, not the government.