Franklin Resources indicated in a recent government filing that it is close to reaching a financial settlement with securities regulators who have charged the company with improper trading activities, The San Francisco Chronicle reports. The company also said the SEC may recommend civil charges for improper trading.

Franklin, which expects to reach a settlement by June, also said in the government filings that it took a $60 million charge last quarter to meet expenses tied to the governmentÂ’s ongoing investigation.

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