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, May 16, 2005 Strong Given More Time to Divest Stake The SEC is giving Richard Strong another three months to sell his stake in Strong Capital Management, reports Dow Jones. As part of his $60 million settlement with the SEC for abusive trading, the founder was originally due to part with his ownership in Strong Capital by March 1, 2005. Regulators said that Strong entities requested for more time to deregister with the SEC and stop operations. The sale of Strong Capital to Wells Fargo was officially completed in early January. The reorganization of the Strong Funds, to be renamed the Wells Fargo Advantage Funds, is expected to be completed sometime in the second quarter. Printed from: MFWire.com/story.asp?s=9704 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |