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 |
|
Monday, November 22, 2004 Franklin Admits Wrongdoing Most fund firms have settled trading abuse allegations "without admitting or denying wrongdoing." That wasn't good enough for Secretary of the Commonwealth of Massachusetts William Galvin. Galvin demanded that Franklin Resources admit wrongdoing in a previously announced settlement regarding a single instance of market timing. Galvin then accused the firm of not complying with the September order by not admitting its wrongdoing. According to an SEC filing, the dispute has been settled and that the firm has now "admitted to the Division's Statement of Facts," officials stated in a filing. Printed from: MFWire.com/story.asp?s=8495 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |