The Securities and Exchange Commission March 28 charged Monetta Financial Services of Wheaton, Ill. with failure to disclose initial public offering holdings in two of its funds in their quarterly statements.

The SEC ruled that Monetta Financial Services' Monetta Fund and Monetta Trust committed fraud by not revealing the IPO holdings in the quarterly reports. Chief Administrative Law Judge Brenda P. Murray fined the firm a civil penalty of $200,000. The investment adviser and two funds have 21 days to file for SEC review of the judge's decision.

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