Watchdog targets Buffett
Posted by admin / Under HIH Insurance
AUSTRALIAN regulators are taking on billionaire investor Warren Buffett, the second richest man in the world, over his role in the collapse of insurance giant HIH. The insurance regulator has given General Reinsurance (Australia), owned by Mr Buffett's Berkshire Hathaway, two weeks to show cause why it should not be investigated over its reinsurance dealings in Australia. The Australian Prudential Regulation Authority has intensified efforts to clean up the industry in the wake of the HIH collapse, disqualifying three more executives and revealing yesterday that a further 19 people were under investigation. The latest sanctions take to 21 the number...
Published on Thursday 17th of May 2012 11:46:26 PM
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