Regulators at the
From June 1999 through September 2003, PCM actively traded U.S. mutual funds through Pentagon Fund's accounts at numerous broker-dealers in the United States, the SEC said.
The complaint, filed in U.S. District Court in Manhattan, said Pentagon chief executive Lewis Chester orchestrated a scheme to defraud mutual funds through late trading and deceptive market timing, Reuters reports.
Pentagon manages $2.21 billion in assets in 17 funds.
Last year, almost $1 trillion flooded into money market funds. Here are the 20 that have grown the biggest.
Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
Turns out clients are as mistaken about tax preparers as they are about taxes.
After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.
The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
