Franklin Resources last week said that improper trading of its mutual fund shares were isolated incidents that do not reflect widespread company abuses and didn't harm long-term shareholders.

The company was responding to Massachusetts regulators and SEC charges alleging it allowed one of its clients to market time $45 million in its mutual funds in exchange for a $10 million investment in one of its hedge funds. Additionally, at press time, the firm said the SEC is considering an action against two senior officers and one of its units.

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