Spitzer Casting A Very Wide Net

Article Abstract:

New York State Atty. Gen. Eliot Spitzer never imagined what a financial services executive's revelation about illegal mutual fund trading would expose in the securities industry. After several months of investigations, Spitzer has begun to file lawsuits against hedge fund brokers and mutual fund dealers for crimes of in-and-out and late trading. Some of the major participants include Canary Capital Partners, Bank of America, Security Trust Co. and Millenium Partners. The role of middlemen traders has been central to Spitzer's cases as the discovery of illegal trades has evolved. The traders willingly particpated in a scheme to buy and sell mutual funds after the 4 PM deadline when ordinary investors were denied that opportunity.

Executive changes & profiles, Security brokers and dealers, Securities Brokerage, Other Activities Related to Real Estate, Stock Brokerage, REAL ESTATE, Real Estate Services, Banking industry, Officials and employees, Stockbrokers, Real estate industry, Securities fraud, Hedge funds, BankAmerica Corp., BAC, Stern, Edward J., Canary Capital Partners L.L.C., Security Trust Co., Millenium Partners Inc.

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Is the Mutual Fund Issue Abuses, or Is It Fees?

Article Abstract:

A possible conflict between SEC chairman William Donaldson and New York Atty. Gen. Eliot Spitzer may erupt over the future of regulations for the mutual fund industry. Donaldson wants the SEC to control what rules will be changed or instituted to prevent further market timing improprieties by stockbrokers. He advocates lowering their fees and expanding explanations of what charges investors must pay. Eliot Spitzer has not yet determined what strategy he will use to accomplish new regulations, knowing that he has the option of achieving them through legal action.

Government regulation (cont), Government expenditures, Government regulation, Commodity & service prices, Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Laws, regulations and rules, Prices and rates, Economic policy, Securities industry, Morgan Stanley Group Inc., Company pricing policy, Donaldson, William H.

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Funds Scandal Hits Invesco And Founder Of Strong

Article Abstract:

NY Atty. Gen. Eliot Spitzer is planning to sue Richard S. Strong whom he accuses of committing improper trading. Strong surrendered control of Strong Financial as the NY securities fraud investigations expanded. Spitzer also sued Invesco Funds Group for its improper trading involving hedge funds and allowing $900 million of its $18 billion in assets to be used in market timing trades.

Appointments, resignations and dismissals, Strong Financial Corp., Strong, Richard S., INVESCO Funds Group Inc.

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