PEA Capital, formerly known as Pimco Equity Advisors and manager of some of PIMCO’s brand-name funds, has been approached by the SEC in a matter relating to market timing by Canary Capital Partners, The Wall Street Journal reports this morning.

PEA has told the SEC that it permitted Canary to market time a few of its funds for several months, according to a statement that PEA issued to the WSJ. Canary proposed investing a large sum of money in a number of PEA funds in exchange for permission to time other funds.

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