MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, January 29, 2008 SEC Smites Heartland Over Bond Funds Heartland Advisors must pay a pretty penny over some allegedly mis-priced bonds. The SEC recently found the investment manager guilty and ordered it--along with president, CEO and chief investment officer William J. Nasgovitz-- to pay $3.5 million. Other Heartland employees were also hit. Chief operating officer Paul T. Beste was ordered to pay $95,001; vice president and co-portfolio manager Thomas J. Conlin, $95,001; vice president and co-portfolio manager Greg D. Winston, $62,961; senior vice president of trading Kevin D. Clark, $25,001; and senior vice president and treasurer Kenneth J. Della, $29,130. The SEC found that Heartland violated sections 17(a)(2) and 17(a)(3) of the Securities Act, section 34(b) of the Investment Company act, rule 22c-1(a) (related to section 22(c) of the Investment Company Act); and section 206(2) of the Advisers Act. Printed from: MFWire.com/story.asp?s=17262 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |