UK Securities Agency Launches Probe Of AIG Unit

Law360, New York (February 12, 2009, 12:00 AM EST) -- The United Kingdom's Serious Fraud Office has announced it is launching its own preliminary investigation into the dealings of insurance conglomerate American International Group Inc.'s financial products unit, following other investigations by American authorities including the U.S. Securities and Exchange Commission and the U.S. Department of Justice.

The British regulator, which handles complex securities investigations, announced Thursday that it is cooperating with the U.S. agencies that are already conducting separate, independent investigations involving the conduct of AIG Financial Products Corp., which issued derivatives based on mortgage...
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