European bank ING has been subpoenaed by the New York attorney general's office...
European bank ING has been subpoenaed by the New York attorney general's office.
The Dutch bank said it received a “general request to provide information” to the investigation, which is looking into the practice of placement service agreements at Marsh.
According to reports, some industry watchers said they believed the bank had been subpoenaed because the attention of the enquiry was beginning to focus on retail level
insurance brokers.
The request, ING claimed, did not indicate suspicion or make allegations in relation to its insurance activities.
Its shares fell 3% yesterday after news of the subpoena broke.
