Rules designed to shine light on market timing
Firms to pay more than US$240 million in penalties and disgorgement
Measure designed to combat market timing
Regulator seeks comment on rule change
Nasdaq voices its support
SIA applauds Donaldson
Skilling accused of fraud
Also pondering ban on soft-dollar commissions
The U.S. Securities and Exchange Commission and the National Association of Securities Dealers are sanctioning 15 of the worst offenders for failing to deliver millions of dollars of mutual fund breakpoint discounts during 2001 and 2002.Breakpoint discounts are volume discounts that apply against funds sold on a front-end sales charge. The SEC and NASD each […]
SEC, Spitzer lay "late-trading" charges