Spitzer Subpoenas AXA Unit

New York Attorney General Eliot Spitzer has subpoenaed a division of AXA Financial, AXA Equitable Life Insurance Co., on suspicions that it may have allowed market timing through its variable annuities and other insurance products, an SEC filing shows.

Although the investigation is still ongoing, the company said, it could result in fines or other costs. The filing provided no other details.

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