Improper-sales claims are settled

Article Abstract:

An improper mutual fund sales investigation by the United States Securities and Exchange Commission and the National Association of Securities Dealers has led to four companies paying out $81 million to settle allegations. The companies are the American Express Financial Advisors Inc., Citigroup Global Markets Inc., J.P. Morgan Chase and Co. and Putnam Investments Inc.

Security brokers and dealers, Management investment, open-end, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Investigations, Discipline, Securities industry, United States. Securities and Exchange Commission, JPM, Putnam Investments Inc., National Association of Securities Dealers, Ameriprise Financial Services Inc., JPMorgan Chase & Co., Citigroup Global Markets Inc.

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Market regulators announce charges in U.S. fund case

Article Abstract:

Bank of America Corp. broker Theodore Sihpol III has been charged in the U.S. with arranging improper mutual fund trading. The fraud charges filed against Sihpol are both civil and criminal.

Legal/Government Regulation, Banking industry, Cases, Bank of America Corp., BAC

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