While New York Attorney General Eliot Spitzer said the practice of late-trading and market timing that he discovered in the Canary Capital Partners case is widespread throughout the mutual fund industry, some of the biggest names in the industry have yet to be contacted by his office, Dow Jones reports.
Fidelity, American Funds, Franklin Templeton Investments, OppenheimerFunds, American Century, Dreyfus and the American Express Funds all said they have not been contacted by Spitzer. He is currently investigating Bank One Corp ., Bank of Americas Nations Funds, Janus Capital and Strong Capital.
A spokeswoman for Wachovia Corp., parent of Evergreen Investments, said she was unaware whether Spitzers office had contacted the firm. However, a spokesman for Invesco said the attorney general had contacted his firm, and Putnam Investments issued a statement saying it had cooperated fully with the regulator.