KeyCorp, one of Ohio's largest banks, said its McDonald Investments Inc. brokerage unit received U.S. Securities and Exchange Commission subpoenas and other regulatory inquiries related to trading activity in the mutual fund, brokerage and annuity businesses.
In its annual report filed Friday with the SEC, Cleveland-based KeyCorp said McDonald received inquiries from the NASD and New York Attorney General Eliot Spitzer. It said McDonald has responded to the regulators and was cooperating fully with their investigations.
Dozens of financial institutions have received subpoenas or information requests from regulators in the widening probes into abuses in mutual funds and annuities, a kind of savings contract offered by insurance companies.
KeyCorp was not immediately available for comment.
KeyCorp is the 15th largest U.S. bank by reported assets, and the third largest based in Ohio. Its shares rose 50 cents to $31.31 in Friday trading on the New York Stock Exchange.