The Securities and Exchange Commission announced Thursday that it would be releasing $103 million to investors who have lost money involving Banc of America Capital Management LLC (BACAP) and affiliatesÂ’ illegal and unethical activities.

BACAP and others were in violations of SEC securities due to late trading and mutual fund market timing.

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.