Janus Capital Meets the Enemy And It Is Janus

Article Abstract:

Janus Capital Group is trying to overcome a series of financial and legal crises that have reduced its assets, market value of its securities, and investor trust in its fund management. So far the company has not taken any action against senior executives or made financial adjustments to handle costs of stockholder lawsuits and regulatory fines. Investment analysts believe the company may be a takeover target because of its difficulty in improving fund performance, and the fact that assets dropped to $83 billion this past September from $180 billion at the end of 1999.

Securities trading, Janus Capital Group Inc.

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Under Pressure, a Mutual Fund May Lower Fees

Article Abstract:

Alliance Capital Management will evaluate the possibility of reducing mutual fund fees for investors as a way of reaching a settlement with NY Atty. Gen. Eliot Spitzer. The SEC believes that Spitzer is overstepping his bounds because the SEC oversees fee regulations. Spitzer is trying to generate better compensation for investors whose mutual funds did done poorly despite extraordinary profit margins for the mutual fund companies. Part of these profits resulted from improper trading practices in securities that benefitted special clients.

Commodity & service prices, Financial Services, Finance and Insurance, Public affairs, Financial services industry, Prices and rates, Public relations, Company public relations, Alliance Capital Management L.P., Company pricing policy

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Canada Bank Is Said to Face Legal Action By Regulators

Article Abstract:

NY Atty. Gen. Eliot Spitzer is considering filing charges against the Canadian Imperial Bank of Commerce for financing investors who made illegal mutual fund trades in late-date trading. Both Spitzer and the SEC claim that bank senior executives knew these trades were illegal and should have not provided the means for investors to gain a financial advantage through use of hedge fund bets in mutual fund shares via derivatives. The bank has already paid an $80 million settlement for its financing of Enron activities.

Canada, Investment Offices, Mutual Fund Mgmt Companies, Portfolio Management, Banking industry, Mutual funds, Canadian Imperial Bank of Commerce, Hedge funds, After-hours trading (Securities), After hours trading (Securities)

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