Money Management Executive Latest News

Two Franklin Resources officers and one trader were placed on administrative lead as part of the company’s ongoing look into possible market timing in its funds, Reuters reports.

Morgan Stanley Investment Management has been placed on an Ohio pension fund’s "watchlist" because of its settlement with the Securities and Exchange Commission for not keeping investors informed, Reuters reports.

Investors pulled money in November from investment companies facing the most serious charges in the mutual fund investigations, according to monthly data from Lipper Inc.

David S. Ruder, the former chairman of the Securities and Exchange Commission, who has been working as an independent consultant for embattled Strong Financial Corp., recommended the firm implement 2% redemption fees and send warning letters to Strong fund trader who buy and sell shares within a 30-day window. The company said it agreed.

Two Franklin Resources officers and one trader were placed on administrative lead as part of the company’s ongoing look into possible market timing in its funds, Reuters reports.

Morgan Stanley Investment Management has been placed on an Ohio pension fund’s "watchlist" because of its settlement with the Securities and Exchange Commission for not keeping investors informed, Reuters reports.

Amid the shadow of the Securities and Exchange Commission's crucial drive toward assuring ethical mutual fund transactions, the National Securities Clearing Corporation, the commission's self-regulating organization that processes most fund transactions, wants to compartmentalize and standardize the data of another industry - separately managed accounts.

The mutual fund scandal took a surprising turn last week when Alliance Capital Management agreed to lower management fees on its funds as part of a landmark $600 million settlement that could set an alarming precedent.

The scandal of 2003 is such a pivotal event since the advent of the mutual fund industry in 1940 that there are two salient facts about it that will undoubtedly be remembered in years to come. Its magnitude and its stealth.

It's your worst nightmare come true. Regulators called yesterday to inform of their investigations into your firm's practices, and already some of the toughest news reporters in the industry have called for comments --some more than once. You are still trying to absorb the information, figure out what's what and find out who did what, when, and why?