Improper trades made on behalf of hedge fund client
A paper published in the U.S. in December compares U.S. equity mutual funds’ published performance from 1991 through 2004 with estimates of what investors in those same funds actually earned over the same time period. The paper, Investor Timing and Fund Distribution Channels, by Mercer Bullard, Geoffrey Friesen and Travis Sapp, highlights the “timing performance […]
The U.S. Securities and Exchange Commission reported that it has distributed US$31.5 million to more than 150,000 investors who were harmed by undisclosed mutual fund market timing in the MFS funds between 1999 and 2003.The distribution is the first in a series of disbursements from the Fair Fund that will return approximately US$306 million to […]
Rice failed to supervise reps, regulator says
Company concludes market timing and broker compensation matters
Payment of US$50 million includes US$40 million in customer compensation
Firm to pay US$16.8 million for financing of hedge funds’ illegal market timing
The St. Louis broker-dealer will have to pay a total of almost US$4 million for failing to supervise some registered rep
Beacon Rock Capital charged, SEC reports
Pair facilitated hedge fund manager’s deceptive market timing, regulator alleges