SEC and NASD Fine Various Fund Advisers, Broker-Dealers

Hume, Lynn
March 2005
Bond Buyer;3/24/2005, Vol. 351 Issue 32097, p5
Trade Publication
The article reports that the American Federal regulators announced that they imposed fines against mutual fund advisers and broker-dealers in a series of enforcement cases involving undisclosed shelf-space arrangements and improper sales activities. Putnam Investment Management LLC, a registered investment adviser to more than 100 funds, including muni bond funds, agreed to pay $40 million and take remedial actions to settle Securities and Exchange Commission charges related to shelf space arrangements with broker-dealers.


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