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 since September 2003, were prevalent in Europe’s backyard, as well. "The report finds that abusive business practices which exploit the mutual funds for the benefit of some privileged investors (such as late trading or market timing) are rare in Europe," said Lamberto Cardia, CESR’s expert group chairman. Each state in the EU has one member on the committee.

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