Financial Biz Roundup: AIG Feels SEC Heat, Empire State Lead Underwriters

Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) are listed as lead underwriters for a $1 billion initial public offering with Empire State Realty Trust. The Real Estate Investment Trust (REIT) – owner of the Empire State building in NYC – says it will be listed on the NYSE under the symbol ESB.

Investing Insights: Bank of America and 2 Stocks Leading the Dow Higher.

AIG (NYSE:AIG) feels the heat from the Securities Exchange Commission again, as the regulator presses for more disclosures in the company’s quarterly reports on guaranteed interest rates in its life insurance business. Insurance firms have increasing issue with guaranteeing lifetime payments without taking on too much risk with interest rates at rock bottom.

E Trade’s (NASDAQ:ETFC) average daily trading volume in January was down year-over-year, but up 20% from December. ETFC added 30,298 brokerage accounts last month to around 2.8 million, and customer assets total $185.4 billion, up 2.3% year-over-year and up 7.5% month-over-month.

Don’t Miss: ECB’s Free Lunch Saves Banks €120B.

To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com