Fremont Fined $4.1 M for Timing, Late Trades

Burke, Kevin
November 2004
Money Management Executive;11/8/2004, Vol. 12 Issue 44, p1
The article informs that market-timing woes continue to pervade the mutual fund industry, as even smaller shops are getting caught in the act. Fremont Investment Advisors on Thursday agreed to a $4,146 million settlement with state and federal regulators over allegations that the company allowed preferred clients to engage in inappropriate market- timing and illegal late-trading of its mutual funds. The San Francisco-based firm manages 12 mutual funds with a total of $3 billion in assets under management, which illustrates a new wrinkle to the scandal in that most of the firms that have been involved thus tar have been large fund complexes.


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