Franklin Advisers wiped away some of the muck from the mutual fund trading scandal last week after agreeing to a $50 million settlement with regulators for its involvement in inappropriate trading of mutual fund shares.

The Securities and Exchange Commission said San-Mateo, Calif.-based Franklin, the advisor for the Franklin and Templeton mutual funds, permitted more than 30 favored clients to engage in market timing from 1996 through 2001, a pattern of behavior that contradicted the language found in fund prospectuses.

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