(October 31 – 10:00) – Bonham & Co. Inc. Asset Management says that it welcomes the opportunity to respond to the allegations made by Ontario Securities Commission against Mark Bonham, SVC O’Donnell Fund Management Inc. and Bonham & Co. Inc. The OSC is accusing them of manually repricing mutual funds in 1997 and 1998.
The firm says that extensive comment is not appropriate, because the matter is before the commission, but it says, “the board of directors of Bonham & Co. and Bonham welcome the opportunity to review this matter in detail with the commission.”
The firm goes on to say that the board and Bonham “remain convinced that the firm’s conduct was consistent at all times with regulations in effect at the time, and was in keeping with stated objectives to provide both fair and high quality service in transactions with unitholders.” It says it and its auditors, KPMG, have cooperated with the OSC in providing any information related to value pricing practices.
“We look forward to an opportunity to address these allegations directly and eliminate any speculation caused by rumors that were circulated earlier this year,” said Mark Sack, president of Bonham & Co. Inc. Asset Management. “The investment community will see that our conduct was consistent with the best interests of our clients.”
-IE Staff