XL subsidiary receives subpoeana in NY investigation
In a regulatory filing Bermudian (re)insurer XL Capital has admitted that one of its subsidiaries has received a grand jury subpoena from the Antitrust Division of the US Attorney's Office for the Southern District of New York seeking documents in connection with an investigation into the municipal guaranteed investment contract ("GIC") market and related products.
XL added that another subsidiary has received a subpoena from the Securities and Exchange Commission (SEC) as part of its investigation entitled In the Matter of Certain GIC Brokers.
The Company said
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