Maurice "Hank" Greenberg, former chief executive of American International Group, may face civil charges from the U.S. Securities and Exchange Commission, his lawyer said on Wednesday.
Greenberg received a "Wells notice" from the U.S. Securities and Exchange Commission on Friday. A Wells notice signals that regulators are considering civil charges and gives the recipient a chance to mount a defense.
Greenberg's attorney, Robert Morvillo, said in an e-mailed statement: "We remain confident of our position on the merits, and we believe that none of the remaining issues are material to AIG's financial statements."