Standard Chartered’s Hong Kong division has agreed to reimburse $320,000 to 1,000 investors who were allegedly disadvantaged by the firm’s permitting Stone Castle, a Millennium Partners subsidiary, to market time 24 mutual funds managed by ACM Funds and Scudder Global Opportunities Funds.

Standard Chartered reached the settlement with the Hong Kong Securities and Futures Commission without admitting to guilt. The Commission said Standard Chartered gave Stone Castle same-day pricing.

“The SFC considers that the timing advantage given to Stone Castle was open to abuse and was potentially prejudicial to Standard Chartered Bank’s other clients because it might enable Stone Castle to trade ahead of those clients at better prices,” the Commission said.

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