Regulation

The Financial Industry Regulatory Authority has fined Oppenheimer & Co. $1 million for intentionally submitting inaccurate mutual fund breakpoint data and for failing to properly supervise its brokers.

It's been four years since Noreen Harrington has appeared on the scene, but she recently spoke before an industry group on why she blew the whistle on the market timing and late trading at Canary Capital, setting off the shocking scandal that rocked the fund industry, cost it $5 billion in fines and nearly tarnished its reputation forever.

WASHINGTON-The Securities and Exchange Commission is interested in reducing mutual fund operational risk, improving disclosure and helping boards better assess soft dollars, according to Andrew J. Donohue, director of the division of investment management.

It's been four years since Noreen Harrington has appeared on the scene, but she recently spoke before an industry group on why she blew the whistle on the market timing and late trading at Canary Capital, setting off the shocking scandal that rocked the fund industry, cost it $5 billion in fines and nearly tarnished its reputation forever.

Hedge funds in Europe have just proposed that they self-police, in an attempt to ward off regulation. They are offering to volunteer information about their holdings, risk management, governance and valuation techniques.

Like death and taxes for the rest of us, Securities and Exchange Commission oversight will always be a concern for the mutual fund industry.

Hedge funds in Europe have just proposed that they self-police, in an attempt to ward off regulation. They are offering to volunteer information about their holdings, risk management, governance and valuation techniques.

Although it has been three years since Janus paid $226 million to settle market-timing charges, the Securities and Exchange Commission has taken three former Janus executives, Warren Lammert, Lars Soderberg and Lance Newcomb, to trial in Denver for market timing.

Fines, being barred from the industry and even facing years behind bars evidently won't deter some market timers looking for a quick, sure buck.

The Securities and Exchange Commission has settled its lawsuit against Mutuals.com and two related investment advisors, Connely Dowd Management and MTT Fundcorp, along with the firms' three principals, Richard Sapio, Eric McDonald and Michele Leftwich.