The Securities and Exchange Commission on Monday charged three former Janus Capital executives with violating federal securities laws and prospectus provisions by allowing or facilitating improper frequent trading arrangements. The three are Warren Lammert, who was the portfolio manager of the Janus Mercury Fund; Lars Soderberg, who was former executive vice president; and Lance Newcomb, former sales director.

The SEC further alleges that Newcomb entered into an improper arrangement with at least one investor whereby the investor was  allowed  to  frequently trade in one fund in return for making a long-term investment in another fund.

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