TITLE

Marsh's expertise could aid Putnam

AUTHOR(S)
Winston, Paul
PUB. DATE
November 2003
SOURCE
Business Insurance;11/10/2003, Vol. 37 Issue 45, p6
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses that companies today must be more wary of the risks associated with public perceptions of inappropriate behavior, self-dealing or, worse, covering up any such activities. Last month, Putnam Investments Inc., a unit of Marsh & McLennan Cos. Inc., was affected by securities fraud charges because two mutual fund managers in 2000 allegedly engaged in improper market timing for their personal accounts, in violation of company policy and controls. Putnam reportedly discovered the alleged wrongdoing and halted it but has been faulted for not taking stronger steps. Many clients of the company simply are unwilling to give Putnam a second chance.
ACCESSION #
11462500

 

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