Employees handling three FleetBoston mutual funds, including one designed for kids, allowed market timing, The Wall Street Journal reports, citing the company itself and individuals privy to the trades.

As if allowing rapid-fire trading in the Newport Tiger Fund and Columbia GrowthStock Fund (formerly the Stein Roe Growth Stock Fund) was not bad enough, Fleet is bound to come under a flood of criticism for the market timing it permitted in the $855 million Columbia Young Investor Fund.

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