to Settle Improper Trading Charges
Investments, the sixth-largest mutual fund management firm in
the United States, will pay $110 million to settle improper trading
allegations brought against it by the Securities and Exchange
Commission and Massachusetts regulators.
Reach $675 Million Settlement in Mutual Fund Scandal
of America and FleetBoston Financial said Monday they reached
a record $675 million settlement to resolve charges they helped
favored clients trade mutual funds improperly at the expense of
Guide on Mutual Funds
Throughout much of the fall, the mutual fund scandal has become
increasingly widespread. Ray Suarez asks Matt Gnabasik, managing
director of the retirement practice at Blue Prairie Group, and
Christine Benz, editor of the Morningstar Fund Investor, about
what the investing public should do to deal with the scandal.
Chief Discusses Widening Mutual Fund Investigation
Securities and Exchange Commission head William Donaldson discusses
the ongoing investigation into corporate misconduct in the mutual
fund industry and efforts to protect investors.
Questions Regulators' Oversight of Fund Industry
Reserve Chairman Alan Greenspan and Treasury Secretary John Snow
cautioned that bipartisan bills to overhaul the $7 trillion mutual
fund industry may cost investors more in fees and diminished returns.
Kwame Holman updates the debate over the proposed reforms.
York Attorney General Eliot Spitzer Targets Mutual Fund Fraud
York state Attorney General Eliot Spitzer has become perhaps the
most vigorous enforcer of the rules against corporate wrongdoings
in America. Paul Solman speaks with Spitzer about his efforts
to combat Wall Street's abuses and his recent testimony at the
congressional mutual fund fraud hearings in Washington.
Firms To Be Charged in Fund Probe
congressional hearings Tuesday, Securities and Exchange Commission
officials said that they expect to charge more firms in their
ongoing probe into abuses in the $7 trillion mutual fund industry.
Financial experts analyze the impact of the testimonies and the
Top Fund Executives Resign Under Suspicion of Fraud
investigation into corporate misconduct in the mutual fund industry
widened today after two top executives -- Lawrence Lasser of Putnam
Investments and Richard Strong of Strong Mutual Funds -- resigned
under suspicion of fraud. Paul Solman explains the latest allegations
of mutual fund fraud.