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The CEO of Franklin Resources, despite earlier indications that he was on the cusp of being reprimanded for allowing improper trades within his firm, will not face civil lawsuit recommendations from the Securities and Exchange Commission, the company said in a filing with the Commission Tuesday.

Gregory Johnson, who also serves as president of Franklin, the No. 1 publicly traded mutual fund company, thus is separated from the market-timing abuses that several of his current and former employees have been involved with.

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