SEC Issues Second Round of Fund Trade Requests

For the second time in six days, mutual fund companies received letters from the Securities and Exchange Commission last week inquiring how their funds are priced and traded.

Two inquiries, one on Sept. 11 and the latest on Sept. 5, are from Lori Richards, the SEC’s director of compliance inspections and examinations. She asked an undisclosed number of firms about illegal practices similar to the kind a former Bank of America broker has recently been criminally accused of by New York Attorney General Eliot Spitzer.