Lawyers

• AIG units to pay $9.5 million settlement over expensive mutual fund shares

  The three AIG units that were involved in practicing confllict of interest towards its clients are asked to pay $9.5 million. These units have drove their clients into purchasing expensive mutual fund shares in order to collect more fees.

• Senator Warren probes perks offered to annuities brokers

  A high-profile U.S. senator said on Tuesday she has launched an investigation into 15 major annuity providers amid concerns about the perks they offer to brokers who peddle the products to retirees.

• MetLife says U.S. regulators declared it 'systemically' important

  U.S. regulators have declared insurer MetLife Inc so big that its failure could destabilize financial markets, a designation that brings extra regulation.

• AIG to pay $35 million fine: New York insurance regulator

  Insurer American International Group will pay a $35 million penalty for violations related to former subsidiaries that solicited insurance business in New York without a license, the New York State Department of Financial Services said on Friday.

• Investor to object to proposed $4.5 billion JPMorgan settlement

  A group of funds that threw a monkey wrench in Bank of America Corp's (BAC.N) proposed $8.5 billion settlement with investors in mortgage-backed securities will object to JPMorgan Chase & Co's $4.5 billion offer to settle claims over similar investments, according to the lawyer that represents them.

• Ex-Fed Chair Bernanke: wanted to stop AIG default, not punish firm

  Former Federal Reserve Chairman Ben Bernanke said on Friday that he was hesitant to bail out American International Group (AIG.N) in 2008, but he was primarily concerned that the insurer "was on the brink of default" and not about punishing AIG.

• FSOC may tweak process for spotting super-risky firms

  The U.S. top financial risk council may tweak the way in which it identifies insurers and other companies that are not banks as systemically important, a process the industry and politicians have fiercely criticized.