Finally, Invesco and sister company AIM Advisors have settled their market-timing charges with the Securities and Exchange Commission.

In what the Commission called a simultaneous enforcement action, Invesco and AIM, subsidiaries of Amvescap, agreed to pay a total of $375 million.

Former Invesco President and CEO Raymond R. Cunningham also settled with the Commission, agreeing to pay $1 in disgorgement and $500,000 in civil penalties.

The SEC found that between at least 2001 and July 2003, Invesco had market timing arrangements in place for at least 40 investors. AIM was found to have at least 10 similar arrangements.

Invesco will pay $215 million in disgorgement and $110 million in civil penalties, while AIM, along with its subsidiary AIM Distributors, will pay $20 million in disgorgement and $30 million in civil penalties.

Just last week, Amvescap announced that on Oct. 15, the 17 U.S. mutual funds that bear the name Invesco will be rebranded as AIM funds. Ed Larsen, the CIO of AIM, announced a voluntary leave of absence last week as well.

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