Financial Services Industry
Industry: Email Alert RSS FeedSpitzer subpoenas Marsh & McLennan and Aon.
Financial News, April, 2004
Byline: Anuj Gangahar in New York
Eliot Spitzer, the New York state Attorney General has issued subpoenas against Marsh & McLennan and Aon, the two largest insurance brokers in the world, as his campaign to clean up US capital markets moves to the insurance sector.Marsh & McLennan, owner of Putnam Investments, the embattled fund management firm caught up in the improper mutual fund trading scandal in the US, said it was cooperating fully with the enquiries.
Aon said it was asked to provide information on compensation agreements between insurance brokers and insurance companies.
According to a statement from Aon, a number other brokers are also being asked about compensation agreements.
Aon said: "Aon understands that the attorney...
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