Janus Capital Management settled with the SEC Wednesday for its market-timing arrangements, agreeing to pay a total of $100 million, $50 million of it in disgorgement and $50 million in penalties. Janus also agreed to a cease-and-desist order and agreed to reform its compliance and governance.

"The $100 million that Janus has agreed to pay and the significant reforms that it has agreed to implement reflect the seriousness with which the staff views market-timing arrangements," said Stephen M. Cutler, director of the SEC’s division of enforcement. "We will continue to investigate these improper arrangements in an effort to hold all responsible parties accountable."

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