View more on these topics

Serious Fraud Office to investigate AIG’s UK financial products arm

The Serious Fraud Office has announced that it is to launch a preliminary inquiry into the UK operations of AIG Financial Products Corps.

The SFO is conducting the investigation in tandem with the FSA and US authorities, who are already conducting an investigation into conduct at AIG Financial Products Corp.

AIG says it is in full cooperation with SFO in the inquiry, which does not cover its insurance operation in the UK.

SFO director Richard Alderman says: “It is right for us to look into the UK operations of AIG Financial Products Corp to determine if there has been criminal conduct. We will use our full range of powers to seek information and to speak to those with an inside knowledge of the company’s operations.”

AIG began the process of unwinding certain of AIGFP’s and its subsidiaries’ businesses and portfolios, including those in the UK, late last year.There are approximately 370 employees in the firm worldwide who are working on the winding down of the business.


300,000 Can quit MVR-free

Up to 300,000 with-profits bondholders are approaching a deadline that allows them to withdraw their investment in full without penalty, according to


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm