Four years, $2.5 billion in fines and a continuing fund scandal later, regulators are still trying to figure out how to compensate investors whose assets were depleted by the actions of the late-trading and market-timing scammers, The Capital reports.

Even when they track down investors in the funds, regulators have to figure out exactly how many shares the investors owned when the timing took place—and how much that timing depleted their value. And then there are those investors who have since sold their shares, as well as those who held accounts through employer retirement accounts and whose identities cannot be uncovered.

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