Market-timing and late-trading abuses are rare in the European fund industry, according to a recently published report from a group of regulators in Europe.

The Committee of European Securities Regulators (CESR), set out to examine whether the shady practices that have rocked the U.S. fund industry were prevalent in Europe's backyard, as well. "The report finds that abusive business practices, such as late trading and market timing, which exploit the mutual funds for the benefit of some privileged investors are rare in Europe," said Lamberto Cardia, CESR's expert group chairman.

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