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SEC Probes AIG Unit for Teacher Retirement Products



The Securities and Exchange Commission is investigating the sales and disclosure practices of Valic, a unit of giant insurer American International Group Inc., including the company's dealings with pensioners in school districts and universities, according to people briefed on the case.

The study centered on whether incentives in Valic's compensation structure rewarded representatives for having sold higher-cost products to participants in the pension plan and whether Valic materials and representatives correctly disclose …


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