The Securities and Exchange Commission may soon charge Fremont Investment Advisors and an ex-employee for improper mutual fund trading, Reuters reports. A previous Wells notice added late trading to the previous allegation of market timing, the company said.

In apparent filings with the SEC and admissions on its company Web site, Fremont said it was told that from 2001 to October 2002, one former employee and perhaps two former employees participated in inappropriate trading. One Wells notice was filed with the company, though Reuters reports that the former employee who the SEC said it may go after may be someone different.

Fremont has admitted to market-timing arrangements with some clients, but said those arrangements ended a year-and-a-half ago. Since that time, the company says it has amended policies to stop the unethical trades.

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