Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SEC Targets MFS CEO Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 29, 2004

SEC Targets MFS CEO

by: Nicole Halsey

In a new move to penalize individuals believed to have had knowledge of improper mutual fund trading at their companies, the SEC is mulling banning executives temporarily from the industry.

Starting with MFS’ chief executive officer John W. Ballen. As MFS moves closer to a $200 million settlement with the SEC on improper trading charges, the SEC is considering suspending Ballen and another MFS executive, the Wall Street Journal reports.

Howard Schiffman, a former SEC enforcement attorney told the WSJ that the agency usually seeks a suspension, known as a "time out" among securities lawyers in cases it considers especially serious. However, he added that while suspensions typically last for only a few months they still "send a stronger message," because even short bans are considered embarrassing to firms and executives.

Ballen’s reputation at MFS is a formidable one. He holds degrees from Harvard and Stanford and joined the firm’s research department in 1984 and quickly rose through the ranks to become a portfolio manager and, ultimately, the company's CEO in 2002.

 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use