Goldman Sachs Group Inc. is walking away from its QxX index, a longevity index that tracks the life expectancy of those who sell their insurance policies on the secondary market, according to a report in Reuters. “There hasn’t been much commercial activity in the index,” Goldman Sachs spokesman Michael DuVally said, confirming that the investment bank is winding down the index

T oday’s top stories from Report on Business : Regulators strike ABCP deal A group of Canada’s biggest banks and investment dealers have struck regulatory settlements expected to total more than $130-million related to their role in the $32-billion meltdown of the country’s asset-based commercial paper market in 2007. Canadian Imperial Bank of Commerce CM-T and its CIBC World Markets unit, Bank of Nova Scotia’s BNS-T Scotia Capital, HSBC Bank Canada, Canaccord Financial CF-T and Credential Securities are all scheduled to appear before Ontario-based regulators Monday to approve the penalties, which were finalized this week. The tallies are expected to range from less than $1-million for Credential to as much as about $30-million for Scotia, said people familiar with the negotiations.

Almost five years after Massachusetts Mutual Life Insurance Co. entered the retirement income market, the firm has shut down the division devoted to the business — indicating how difficult it is to break into. In 2005, MassMutual was one of the first insurance companies to announce formally that it was building a business designed to target investors near or at retirement.

A judge in New York state court ruled Thursday that Merrill Lynch must go to arbitration to pursue a broker for an unpaid note. In the order, New York Supreme Court Judge Bernard Fried rejected the argument by the issuer of the retention notes, Merrill Lynch International Financial Inc., that it is not a broker-dealer and is therefore not required to arbitrate disputes with Merrill brokers. The broker in the case, Todd Gutkin, left Merrill in April 2009

A Finra arbitration panel yesterday rejected a raiding claim brought by Wachovia Securities LLC against Stifel Nicolaus & Co. Inc.

American International Group Inc. asked a federal judge to dismiss a case brought against it by a Canadian real estate investment firm concerning a swap deal initiated in 1990.

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