Putnam's woes are far from over as federal regulators are swinging for the fences and are poised to ask a judge to punish the firm more severely than any company mired in the scandal so far.

The two sides appear to be farther apart than ever since they initially agreed to a partial settlement in November, with a looming showdown in court fast approaching. They are set to meet April 19, in Boston before an administrative law judge. The SEC is seeking to impose a heavy penalty of fines and disgorgement that, by MME calculations, sets the minimal amount at about $830 million. These calculations are based on pre-hearing briefs by the SEC and Putnam, as well as estimates by Lipper of New York.

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