(Bloomberg) — American International Group Inc. shares slumped Tuesday amid a report that the U.S. Securities and Exchange Commission is probing sales practices for retirement products at a unit that handles plans for school districts and universities.The stock fell as much as 2.6% after the Wall Street Journal said the SEC was inquiring about whether incentives at an AIG unit rewarded salespeople for pitching higher-cost products and whether the payments that AIG’s representatives received for selling certain products were properly disclosed. Judy Burns, an SEC spokeswoman, declined to comment.Regulators have sought to clarify conflict-of-interest rules for sales by brokers and …read more
Source:: Yahoo Finance
