Updated Thursday, July 31, 2014 as of 9:44 PM ET
SEC Begins Distributing $267 Million Bear Stearns Fair Funds
by: Money Management Executive
Tuesday, May 19, 2009
Partner Insights

The Securities and Exchange Commission has begun sending investors checks from the $267 million fair funds distribution fund that came out of a 2006 settlement with Bear Stearns over late trading and market timing in mutual funds.

The first installment was $216 million, sent to 761,000 shareholders. The remaining money will be sent by the end of the year.

“We are very pleased to make this first distribution from the Bear Stearns Fair Fund to injured mutual funds and their shareholders and look forward to disbursing the remaining money in the coming months,” said James A. Clarkson, acting director of the SEC’s New York regional office.

Since the passage of the Sarbanes-Oxley Act of 2002, the SEC has returned more than $5 billion to harmed investors.

Get access to this article and thousands more...

All Financial Planning articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

2014 Summer Reading List for Advisors

Current Issue

The July Issue is now online!


Industry Events

August 10, 2014 |

September 9, 2014 |

September 17, 2014 |

September 20, 2014 |

September 28, 2014 |

Already a subscriber? Log in here