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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ALBANY, NY RS Investment Management agreed to pay 30 (m) million dollars to settle allegations it allowed &quot;excessive&quot; market timing in its mutual funds.
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By Bloomberg News. Edward D. Jones &amp; Company said yesterday that it had agreed to pay $75 million to settle regulators&#39; accusations that it did not disclose hidden marketing deals with mutual funds.
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Insurer American International Group Inc.  said on Wednesday it has agreed to pay an &#36;80 million penalty and appoint an independent monitor as part as a proposed settlement with U.S. authorities related to helping companies fraudulently inflate earnings.
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SAN FRANCISCO (CBS.MW) -- Three US-based mutual-fund units of German insurance giant Allianz will pay $50 million to settle allegations that they defrauded investors in a market-timing scheme, regulators said Monday.
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Federal regulators said on Tuesday three former employees of Invesco Funds Group Inc. agreed to pay &#36;340,000 in fines to settle charges that they had a role in allowing improper trading in Invesco mutual funds, leaving a settlement with the company to be hammered out.
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Federal securities regulators will throw their weight behind investors in a big-money dispute that could resolve whether shareholders can sue bankers who enabled their corporate clients to engage in fraud, two people familiar with the decision said yesterday.
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Investment banks Goldman Sachs Group  Inc. GS.N and Morgan Stanley MWD.N have agreed to pay about  $40 million each to settle U.S. Securities and Exchange  Commission allegations of misconduct in their handling of  initial public stock offerings, sources familiar with the  matter said on Tuesday.
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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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HARTFORD, July 23  â The Hartford Financial Services Group paid $115 million to settle accusations that it allowed illegal trading in some mutual funds, the company and the Connecticut attorney general, Richard Blumenthal, announced on Monday.
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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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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.
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Fremont Investment Advisors of San Francisco has agreed to pay $2.1 million in restitution and $2 million in civil penalties to end a mutual fund timing case, New York Attorney General Eliot Spitzer announced Thursday.
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Janus Capital Management agreed Wednesday to pay $100 million to settle allegations by the US Securities and Exchange Commission that the mutual fund company permitted &quot;market timing,&quot; a trading practice at the heart of the mutual fund scandal.
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When brokers and fund managers churn, you usually pay.
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WASHINGTON -- The two founders of the Pilgrim Baxter mutual fund family have agreed to pay $80 million each to settle regulators' charges of improper trading to benefit themselves and friends at the expense of longer-term shareholders, the authorities said yesterday.
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The PIMCO mutual fund group&#39;s adviser and two affiliates will pay more than $20 million to settle charges involving failure to disclose payments made to brokers for