SEC expressed concerns about the firm's disclosure to investors in April 2008
AIG came under scrutiny for its derivatives trades months before it was bailed out by the American government in mid-September last year, according to newly released documents.
The Securities and Exchange Commission revealed on Monday that its officials had written to three AIG chief executive officers, dating back to at least April 2008, signalling that the regulator was concerned that the New York-based company wasn’t disclosing enough to investors.
AIG racked up losses in excess of $100m (£60.4m) from CDS contracts, a form of insurance on debt. AIG sold CDS contracts to numerous European banks.