TITLE

Franklin Firms Settle Charges With SEC in Fund Shelf-Space Case

AUTHOR(S)
Hume, Lynn
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/14/2004, Vol. 350 Issue 32029, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on Franklin Advisers Inc. and Franklin Templeton Distributors Inc. decision to pay $20 million in civil penalties to Securities and Exchange Commission. They were charged with failure to disclose to mutual fund boards and shareholders that they used fund assets to compensate brokerage firms for recommending Franklin funds over others. Securities and Exchange Commission claimed that between 2001 and 2003 the two firms had so-called shelf space arrangements with 39 broker-dealers under which they allocated $52 million from brokerage commissions to the broker-dealers in return for pushing Franklin funds to clients.
ACCESSION #
15378789

 

Related Articles

  • At Deadline. Burke, Kevin // Money Management Executive;12/20/2004, Vol. 12 Issue 50, p1 

    The article reports on the decision of the distributor and investment advisor for the Franklin Templeton Corp. family of mutual funds to pay $20 million to settle charges that they made ill use of brokerage commissions. The U.S. Securities and Exchange Commission alleged that Franklin Advisers...

  • Franklin Templeton Distributors Inc. Williamson, Christine // Pensions & Investments;08/04/97, Vol. 25 Issue 16, p25 

    Looks at the introduction of the Templeton Institutional Funds Emerging Fixed Income Market Series by the Franklin Templeton Distributors Incorporated of San Mateo, California. Information on the debt obligations and fixed income of market countries.

  • 2 Global Funds From Franklin Templeton. Ackermann, Matt // American Banker;1/10/2001, Vol. 166 Issue 7, p9 

    Reports on Franklin Templeton Distributors Inc.'s introduction of two international mutual fund products, namely, the Franklin Global Growth Fund and the Franklin Global Aggressive Growth Fund.

  • Back-end option from Franklin Templeton. Garmhausen, Stephen // American Banker;1/4/1999, Vol. 164 Issue 1, p11 

    Cites Franklin Templeton Distributors' offering of back-end-loaded shares for its mutual funds. B-share format; Availability of the B shares for 33 of the company's funds.

  • Franklin Templeton Adds to Muni Bond Line.  // American Banker;9/10/2003, Vol. 168 Issue 174, p14 

    Franklin Templeton Distributors Inc. said it had started its first shorter-term-maturity, tax-free-income funds in order to expand its municipal bond fund product line. The San Mateo, California, mutual fund company said on Monday that it introduced the Franklin Federal Limited-Term Tax-Free...

  • You might have to pay if you cash out early. Wollenberg, Yvonne Chilik // Medical Economics;7/9/2001, Vol. 78 Issue 13, p10 

    Reports on the increase in the number of mutual funds that penalize shareholders for selling their holdings early. Statistics from December 1999 to March 2001; Percentage of charges; Funds most likely to charge fees.

  • Franklin Advisers.  // Bond Buyer;12/14/99, Vol. 330 Issue 30787, Mutual Fund Directory p26 

    Features investment company Franklin Advisers Inc. Largest portfolio managers; Total assets under management; Total municipal assets under management; Number of funds; Number of municipal funds; Investment outlook; Top funds ranked by total return.

  • SECURITIES AND EXCHANGE COMMISSION.  // Federal Register (National Archives & Records Service, Office of;12/27/2012, Vol. 77 Issue 248, p76305 

    The article presents a notice of an application for an order under section 6 of the Investment Company Act of 1940 issued by the U.S. Securities and Exchange Commission. It cites applicants for the said notice which include the Franklin Templeton Distributors Inc. It notes that in the summary of...

  • R.I. Fines Morgan Stanley $250K Over Fund Sales.  // Money Management Executive;7/16/2007, Vol. 15 Issue 28, p4 

    The article reports on the $250,000 fined against financial services firm Morgan Stanley by the government of Rhode Island. The firm was fined for its providence brokers' negligence that showed unethical and dishonesty practices in selling mutual funds and variable annuities. One investor...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics