Officials at the Bank of New York in an SEC filing disclosed that regulators are examining mutual fund trades executed by its Pershing unit for possible market-timing violations Bank officials also said this week that various regulators have requested documents outlining the relationship between its BNY Hamilton Funds subsidiary and funds' administrator. Meanwhile, Wachovia Securities as part of a settlement with the Securities and Exchange Commission and National Association of Securities Dealers, refunded roughly $18 million to investors for improper breakpoint calculations. The sum includes interest for violations that occurred during 2001 and 2002. The original settlement, which was handed down in February, included a $4.8 million fine.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.