Shareholders in a number of large
Meanwhile, earlier this month, on March 5, Fidelity settled with the
Fidelity has posted a statement on its public website noting that the $8 million settlement involved only 13 employees. In the three years since this misconduct came to light, the fund giants statement reads, Fidelity has taken a number of remedial actions to back up its commitment that these types of activities shall not recur, including disciplining the individuals involved.
Fidelity added that the individuals cited in the SECs investigation have either been removed from the trading desk or have since left the firm. Also, as the SEC noted in its March 5 settlement, Fidelity noted that it has enhanced appropriation policies, added new management oversight on the trading desk and conducted extensive training with employees.