Yesterday, the Serious Fraud Office (SFO) in London announced that it had launched a preliminary investigation into the U.K. operations of AIG Financial Products Corp. (AIGFP), a subsidiary of American International Group (AIG). Several people, including New York Attorney General Andrew Cuomo, have alleged that AIGFP was largely responsible for the collapse of AIG. AIG announced that it “will cooperate fully” with the SFO, which stated that it would use its “full range of powers to seek information and to speak to those with an inside knowledge of the company's operations.” SFO’s investigation does not involve any insurance operations of AIG. The SFO is also cooperating with U.S. authorities and the U.K. Financial Services Authority in their separate investigations into conduct at AIGFP.