TITLE

SEC Fines Fund Firms For Abuses

AUTHOR(S)
Hume, Lynn; Fine, Jacob
PUB. DATE
February 2005
SOURCE
Bond Buyer;2/10/2005, Vol. 351 Issue 32068, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Securities and Exchange Commission ordered Columhia Management Advisors Inc. and an affiliated firm to pay $140 million and Bane of America Securities and two affiliated firms to pay $375 million. Bane of America's settlement also resolved charges of late trading. SEC officials said that all of the money in both sets of settlements, which included penalties and the disgorgement of ill-gotten gains, would be distributed to the funds and shareholders that were harmed by the market-timing and late-trading conduct.
ACCESSION #
16071940

 

Related Articles

  • Brokerage agrees to pay $26M.  // Buffalo Law Journal;3/19/2007, Vol. 79 Issue 23, p14 

    The article reports on the decision of Banc of America Securities LLC to pay $26 million to the U.S. Securities and Exchange Commission (SEC) to settle claims that it did not properly keep the secrecy of forthcoming research reports and that it issued fraudulent research on companies. The SEC...

  • SEC Fines Banc of America Securities $10 Million. Swartz, Nikki // Information Management Journal;May/Jun2004, Vol. 38 Issue 3, p7 

    Bank of America Securities LLC, a unit of Bank of America Corp. agreed to pay a record 10 million dollars penalty to settle the U.S. Securities and Exchange Commission (SEC) claims that it violated recordkeeping laws and access requirements laws. In a three-year period beginning 2001, Bank of...

  • Banc of America fined $26M for errors that led to fraudulent reports on Intel. Taylor, Colleen // Electronic News;3/19/2007, Vol. 53 Issue 12, p31 

    The article reports on a settled enforcement action filed by the U.S. Securities and Exchange Commission against Banc of America Securities LLC (BAS) for failing to safeguard its forthcoming research reports and for issuing fraudulent research. As part of the settlement, BAS agreed to a censure,...

  • ACTIONS.  // On Wall Street;Apr2005, Vol. 15 Issue 4, p25 

    Presents an update on the securities industry in the U.S. as of April 2005. Settlement of market-timing and late-trading charges filed by the U.S. Securities and Exchange Commission against Banc of America Securities; Fine imposed by the New York Stock Exchange (NYSE) against JP Morgan; Reason...

  • Scottrade to Pay $950,000 Penalty.  // Practical Accountant;Aug2008, Vol. 41 Issue 8, p12 

    The article reports that U.S. Securities and Exchange Commission (SEC) has charged Scottrade Inc. for fraudulent misrepresentations of Nasdaq pre-open orders to its customers. It states that the company has agreed to pay a $950,000 penalty. It denotes that the company did not admit or deny SEC's...

  • Revlon Charged with Misleading 401(k) Trustee.  // Plan Advisor News;2013, p47 

    The article reports on the move of the U.S. Securities and Exchange Commission (SEC) to charge Revlon of violating federal securities laws by misleading shareholders during a going private transaction. The agency found that Revlon engaged in ring fencing that deprived its independent board...

  • Revlon Charged with Misleading 401(k) Trustee.  // Plan Advisor News;2013, p47 

    The article reports on the move of the U.S. Securities and Exchange Commission (SEC) to charge Revlon of violating federal securities laws by misleading shareholders during a going private transaction. The agency found that Revlon engaged in ring fencing that deprived its independent board...

  • SEC Charges Fidelity for Improperly Accepting Gifts Paid for by Brokers.  // ComplyNet;Mar2008, p6 

    The article announces that the U.S. Securities and Exchange Commission (SEC) has charged finance company, Fidelity Investments, and 13 current and former employees for improperly accepting more than $1.6 million in travel, entertainment and other gifts paid by outside brokers. The SEC Order...

  • Six B/Ds in Breakpoint Deal; To Pay Fines, Reimburse. Ackerman, Matt // Money Management Executive;2/9/2004, Vol. 12 Issue 6, p4 

    Presents a news update on six financial services companies agreeing to settle SEC allegations regarding their brokers' inability to give out mutual fund discounts as promised. Talks with regulators to reach an agreement; Failure of brokers in giving breakpoint discounts on commissions in...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics