(Bloomberg) -- AIG affiliates were fined by a U.S. regulator for charging customers higher fees in mutual fund sales, two months after AIG CEO Peter Hancock said he would divest the insurance company’s brokerage amid stricter rules.

Royal Alliance Associates, SagePoint Financial and FSC Securities steered clients into more expensive classes of mutual funds, earning an extra $2 million in fees, according to a statement from the SEC. AIG agreed to pay $9.5 million to settle the regulator’s claims and didn’t admit or deny the regulator’s findings.

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