The Securities and Exchange Commission has distributed $55.6 million to 200,000 Banc One investors whose holdings were depleted by market timing. The fair fund resulted from a 2004 settlement in which Banc One Investment Advisors agreed to pay $10 million in disgorgement and $40 million in civil penalties.

“Returning money to investors injured by the unlawful market timing in this and other matters marks the continuation of the SEC’s efforts to remedy the harm suffered by investors,” said Linda Chatman Thomsen, director of the SEC’s division of enforcement.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.