The Securities and Exchange Commission brought and settled enforcement charges last week against three former executives of Alliance Capital Management who were accused of allowing market timing in the firm's mutual funds.

According to Dow Jones news service, Michael Laughlin, 58, who headed the firm's AllianceBernstein unit, will pay a $325,000 fine. John Carifa, 59, the firm's former president and COO, must pay a $275,000 penalty. Gerald Malone, 50, who managed the Alliance Technology fund and the Alliance Technology hedge fund, will pay $150,000.

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