2 Fund Managers to Pay $80 Million Settlements
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The $80 million penalties against the founders of Pilgrim Baxter are the largest imposed on individuals since investigations began last fall into improper trading at some mutual fund companies.
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Three companies that manage and market Pimco stock mutual funds have agreed to pay a total $20.6 million to settle allegations that they failed to disclose their use of fund assets to pay brokerages for steering customers to the funds.
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RS Investment Management agreed to pay $30 million to settled allegations it allowed &quot;excessive&quot; market timing in its mutual funds, New York Attorney General Eliot Spitzer said Wednesday.
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The California Public Employees' Retirement System, the largest US pension fund, agreed to disclose the fees it pays to venture capital and hedge fund managers as part of a legal settlement.
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Deutsche Bank Securities Inc. has agreed to pay $87.5 million to settle allegations of conflict of interest between investment banking and research analysts, the California Department of Corporations announced Thursday.
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MF Global agreed to pay more than $77 million to settle federal charges it had failed to watch over a hedge fund charged with fraud.
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First Command Financial Planning Inc., a company that sold high-fee mutual funds to military officers, has agreed to pay $12 million to settle regulators&#39; charges that it used misleading sales material to promote the funds, it was announced Wednesday.
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The founders of PBHG mutual funds  agreed to pay $160 million in restitution and civil fines and  to be banned for life from the securities industry to resolve  allegations they facilitated improper trading in the funds,  regulators said on Wednesday.
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Aberdeen Asset Management Plc and 17 other fund companies and banks agreed to pay about 194 million pounds ($262 million) to reimburse investors who lost money in the collapse of so-called split-capital trusts.
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cLennan Cos&quot;/&gt;Marsh &amp; McLennan, which the New York attorney general&#39;s office has accused of bid-rigging and price-fixing, said last night that it was setting up a fund to be used for restitution in any settlement agreement.
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RS Investment Management agreed to pay $30 million to settled allegations it allowed &quot;excessive&quot; market timing in its mutual funds, New York Attorney General Eliot Spitzer said yesterday.
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Three former executives of the Invesco Funds Group were barred from the mutual fund industry and agreed to pay a combined $340,000 in fines to resolve accusations that they helped favored clients make about $58 billion in improper trades, regulators said
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Brokerage Edward D. Jones & Co.  disclosed it was paid $82.4 million from seven mutual fund  companies, including those run by Goldman Sachs Group and  American Funds, to recommend their funds over others.
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WASHINGTON (CBS.MW) -- Edward D. Jones &amp; Co. will pay $75 million to settle charges that the brokerage promoted mutual funds without informing investors of revenue sharing agreements it had with the fund firms
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The $850 million settlement Marsh &amp; McLennan Cos. reached with New York Attorney General Eliot Spitzer yesterday will have a small but positive effect on its mutual-fund subsidiary, Putnam Investments, but is unlikely to resolve whether the Boston firm should split from its corporate parent, analysts said yesterday.
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The founders of the PBHG mutual funds agreed to pay $160 million in restitution and civil fines, and to accept a lifetime ban from the securities industry to resolve allegations they facilitated improper trading in the funds
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Managers wonât get $87 million for exiting bankruptcy.