AIG to pay out millions to settle with SEC and DOJ
AIG has announced the details of the settlement it has come to with the SEC and the Department of Justice (DOJ) regarding issues arising from structured transactions with Brightpoint and The PNC Financial Services Group, Inc. (PNC).
AIG will not admit or deny any wrongdoing as part of the proposed settlement but it will pay into an SEC disgorgement fund approximately $46 million in fees (and interest on the fees) on the PNCOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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