The U.S. Securities and Exchange Commission has announced civil actions against Putnam Investment Management LLC and two former Putnam managing directors and portfolio managers, Justin Scott and Omid Kamshad, in connection with their personal trading in Putnam mutual funds.

The commission filed a civil injunctive action in federal district court in Boston against Scott and Kamshad charging each of them with securities fraud.

The complaint alleges that two portfolio managers engaged in excessive short-term trading of the funds they managed, for their own personal accounts. According to the complaint, Scott and Kamshad’s investment decision-making responsibility for those funds afforded them access to non-public information about the funds, including current portfolio holdings, valuations and transactions. The complaint further alleges that the pair’s short-term trading violated their responsibilities to other fund shareholders.

The SEC also issued an administrative order instituting proceedings against Putnam in which it alleges that Putnam engaged in securities fraud by failing to disclose to the funds or to the fund boards the potentially self-dealing transactions in fund shares by Scott, Kamshad and other employees.

In a statement, Stephen Cutler, director of the SEC Division of Enforcement, said, “Self-dealing is antithetical to the responsibilities investment advisers and their employees owe to mutual fund investors. We will continue to be, as we are today, vigilant in pursuing enforcement actions against securities professionals who put their own interests ahead of the interests of the investors they work for.”

The SEC is seeking injunctive relief, disgorgement, penalties, and such equitable relief as the court deems appropriate. It adds that its investigation is continuing.

The Secretary of the Commonwealth of Massachusetts has also brought related actions against Putnam, Scott and Kamshad.