Update 9: Marsh &amp; McLennan Suspends Agreements
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Marsh &amp; McLennan Companies Inc. said Friday it was suspending its practice of using &quot;market services agreements&quot; with insurance carriers, which the New York attorney general has alleged were used to rig bids, cheating customers.
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Putnam Investments will pay $40 million to settle yet another regulatory probe, while corporate parent Marsh &amp; McLennan Cos. yesterday said it would cut 3,000 jobs in the fallout from the price-fixing and bid-rigging scandal enveloping its insurance brokerage unit.
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Marsh & McLennan Cos. MMC.N will  wrap up its probe into its business practices by early January  and set aside more than the $232 million allocated for legal  costs last month to settle bid-rigging claims, Chief Executive  Michael Cherkasky said.
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Prudential Equity Group said yesterday&#39;s dismissal of Roger Egan was a surprise because Marsh &amp; McLennan (nyse: MMC - news - people ) had previously indicated in October that Egan would remain in his position.
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Insurance brokerage firm Marsh &amp; McLennan (nyse: MMC - news - people ) was charged with fraud and antitrust violations in connection with allegations of bid steering and lucrative payoffs from major insurance firms, alleged New York State Attorney General
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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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Broker Marsh &amp; McLennan Cos. and insurer Ace Ltd. (ACE.N: Quote, Profile, Research) have fired a total of six employees in recent days as a result of internal investigations related
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Trading in shares of China Pharmaceutical Group Ltd.  was suspended on Monday, pending an announcement on a possible mandatory unconditional general offer, the Hong Kong exchange said.
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NEW YORK -- Marsh &amp; McLennan Cos. Inc., the world's biggest insurance brokerage, said yesterday it will cut 750 jobs, consolidate some locations, and revamp its information technology structure to cut costs.
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MARSH &amp; McLennan, the world&#39;s largest insurance brokerage, yesterday said it was axing 3000 staff around the world as it struggles with the fall-out from a kickbacks investigation by New York state&#39;s attorney general.
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Two Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) executives linked to an insurance market bid-rigging investigation stepped down from their positions
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Shares of insurance brokerage Marsh &amp; McLennan Cos. continued their slide Monday as analysts said the firmâs suspension of âcontingency commissionâ arrangements would sharply cut earnings.
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INSURANCE broker Marsh &amp; McLennan will take a massive hit from closing down its controversial commission- generating scheme with other firms, as demanded by New York Attorney General Eliot Spitzer.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , the world&#39;s largest insurance broker, on Tuesday said it will reform its business practices and stop
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The U.S. Securities and Exchange Commission has suspended trading for 10 days on shares of 35 companies that it said have been the subject of repeated "pump-and-dump" spam campaigns.
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State securities regulators have moved to suspend or revoke the licenses of nine former brokers for Metropolitan Mortgage &amp; Securities, the bankrupt financial conglomerate that has left thousands of people across the Northwest holding hundreds of millions
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New York Attorney General Eliot Spitzer sued insurance giants Marsh &amp; McLennan, American International Group and several others Thursday, alleging policy brokers have been taking payoffs from insurance companies to steer corporate clients their way rather