BUSINESS
05/14/2009 05:12 am ET Updated May 25, 2011

AIG's Financial Products Unit Hasn't Signed "Big Bang" Protocol

The unit that all but destroyed AIG has failed to sign up for the overhaul of the global derivatives market which was given added impetus by the troubles at the US insurance group.

AIG confirmed that its financial products unit, whose soured bets on credit default swaps forced the company into government hands last year, did not adopt the "Big Bang" protocol that has been signed by more than 2,000 market participants.

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