The Securities and Exchange Commission announced Tuesday the settlement of enforcement actions against three former Invesco executives for their role in a market-timing scheme that allowed preferred clients to make excessive trades in exchange for sticky assets.

Timothy Miller, former chief investment officer and a portfolio manager for Invesco Funds Group, Thomas Kolbe, the former national sales manager for IFG, and Michael Legoski, a former assistant vice president in its sales department, were ordered to pay $1 apiece in disgorgement and penalties of $150,000, $150,000 and $40,000, respectively.

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