U.S. Bancorp Asset Management said that it is cooperating with the Securities and Exchange Commission on an informal inquiry into trading activity in the First American Small Cap Growth Opportunities fund, according to a filing with the regulatory agency.

U.S. Bancorp advises the fund and said that a review of the trading in the fund revealed no legal violations by the firm’s employees, Reuters reports. The evaluation was conducted by an outside law firm hired by U.S. Bancorp.

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