Money Management Executive

U.S. Attorney Investigates Invesco

May 21, 2004, 1:00 a.m. EDT 1 Min Read

Invesco Funds confirmed this week that the U.S. attorney for the Southern District of New York has launched an investigation into possible misconduct, Dow Jones Newswires reports.

Invesco, the U.S. mutual fund arm of U.K.-based Amvescap PLC, is already being investigated by the Securities and Exchange Commission, the Labor Department, the National Association of Securities Dealers and a number of state agencies for improper market timing activities, late trading and fair-value pricing issues. The latest investigation was mentioned in a recent government filing by Invesco.

In addition, New York Attorney General Eliot Spitzer and the SEC filed civil charges in December against Invesco and its Chief Executive Officer Raymond Cunningham, who took an an administrative leave in April. In the lawsuits, Spitzer and the SEC accused Invesco of failing to notify its shareholders and board members that it entered into arrangements giving a handful of institutional investors permission to rapidly trade its funds.

For reprint and licensing requests for this article, click here.

Money Management Executive

MORE FROM FINANCIAL PLANNING

Retirement

Annuity sales rocket to their best first quarter ever

The insurance products began 2024 in much the same way as 2022 and 2023: with record-breaking sales.

By Nathan Place

1h ago
Retirement

How advisors can help clients get the most out of Roth IRAs

Are clients' savings working for them? How to best guide them on the pros and cons of Roth IRAs and other savings programs.

By Courtney Hoff Dockerty

4h ago
Tax

IRA heirs, planners get additional RMD breathing room — again

Financial advisors, tax professionals and their clients get another year to think through potential tax, distribution and trust strategies, according to experts.

By Tobias Salinger

6h ago
Wealth management

Attention, RIAs: Goldman wants to help you help HNW clients

The Wall Street giant has been moving away from providing in-house retail investment advice to finding ways it can support smaller firms.

By Dan Shaw

9h ago
Tax

IRS, Treasury finalize rules on energy tax credit transfers

The IRS and the Treasury released final regs on the tax credits, with specific rules for partnerships and S corporations.

By Michael Cohn

April 25
Retirement

Closing loopholes or blocking access? Reactions to the final DOL rule

Here's how commenters such as the AARP, SIFMA, FSI, the Consumer Federation, NAPFA, the CFP Board and others view the Department of Labor's retirement advice regulation.

By Tobias Salinger

April 25