SEC Slaps Ex-AIG CFO With 5-Year Ban

Law360, New York (August 26, 2009, 1:00 PM EDT) -- The U.S. Securities and Exchange Commission has banned former American International Group Inc. Chief Financial Officer Howard I. Smith from practicing as an accountant before the SEC for five years, following Smith's agreement to pay $1.5 million in a deal to resolve an SEC suit against him and ex-AIG Chairman Maurice Greenberg.

On Aug. 25 the SEC filed settled administrative proceedings against Smith, who served as AIG's CFO from 1996 through March 2005. The agency filed an order suspending Smith from appearing or practicing before the...
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