AIG Regulatory Woes
The decision by Maurice Greenberg to step down as American International Groups longtime CEO came in the wake of the carrier's clashes with multiple government investigators and regulators in recent months. The following is a brief summary:
Sept. 10, 2003: AIG pays a $10 million civil penalty to settle the Securities and Exchange Commission's charge that the insurer sold an income-smoothing product that helped Brightpointa Plainfield, Ind.-based mobile phone distributorhide its losses and report false and misleading financial information to the public.
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