| Directory > Society > Issues > Business > Allegedly Unethical Firms > One Complainant > Articles SEC Files Civil Fraud Case Against Fleet for Market Timing Arrangements
It charged that FleetBoston's Columbia Management Advisors and Columbia Funds Distributor allowed
certain customers to engage in short-term and excessive trading, while prohibiting others. [SEC}
http://www.sec.gov/news/press/2004-20.htm
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Settlement Reached With Five Specialist Firms
They allegedly violated Federal Securities Laws and NYSE Regulations by executing orders for their
dealer accounts ahead of executable public customer or "agency" orders. [SEC]
http://www.sec.gov/news/press/2004-42.htm
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Mutual Fund Manager MFS Settles with SEC
Massachusetts Financial Services Company (MFS) allegedly used brokerage commissions on mutual fund
transactions to illegally pay for their marketing and distribution. [SEC]
http://www.sec.gov/news/press/2004-44.htm
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SEC's Agreement to Settle Civil Fraud Charges Against Fleet for Undisclosed Market Timing
SEC had charged that Fleet's subsidiaries Columbia Management Advisors and Columbia Funds
Distributors allowed certain preferred mutual fund customers to engage in short-term and excessive
trading. [SEC]
http://www.sec.gov/news/press/2004-34.htm
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SEC to Settle Charges Against Bank of America for Market Timing and Late Trading
SEC had charged that the BoA's Capital Management and Securities subsidiaries facilitated market
timing and late trading by Canary hedge fund and others. [SEC]
http://www.sec.gov/news/press/2004-33.htm
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SEC Charges CMS Energy Corp. with Fraud in Round-Trip Energy Trades
According to SEC, CMS arranged "massive pre-arranged trades that, despite lacking economic
substance, grossly inflated CMS's reported revenues." [SEC]
http://www.sec.gov/news/press/2004-38.htm
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CAMCO Settles FTC Charges
FTC had alleged that CAMCO and its subsidiaries indulged in abusive and deceptive collection
practices violating federal law. [FTC]
http://www.ftc.gov/opa/2004/03/camco.htm
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FTC Charges QVC Home Shopping Channel With Making Deceptive Claims
DOJ sues QVC for unsubstantiated claims for Lite Bites weight-loss products and Bee-Alive royal
jelly dietary supplements. Also alleges same for Lipofactor Cellulite Target Lotion. {FTC]
http://www.ftc.gov/opa/2004/03/qvc.htm
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SEC Charges Martha Stewart, Broker Peter Bacanovic with Illegal Insider Trading
Complaint alleges that Stewart committed illegal insider trading when she sold stock of ImClone
Systems after receiving an unlawful tip from Bacanovic and subsequently both lied during
investigation.[SEC]
http://www.sec.gov/news/press/2003-69.htm
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KPMG Accused of Withholding Data in IRS Tax-Shelter Probe
The Justice Department accused the firm of improperly withholding documents to hide tax-sheltering
activity. [CNN Money]
http://money.cnn.com/2003/12/11/news/companies/kpmg_accused.dj/
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SEC Charges Security Trust in Trading Schemes
Company facilitated fraudulent mutual fund late trading and market timing schemes,
http://www.sec.gov/news/press/2003-164.htm
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SEC Charges Gateway with Fraudulent Earnings Manipulation Scheme
The company gave the false and misleading impression that it was outpacing an industry trend of
decreasing sales of personal computers.
http://www.sec.gov/news/press/2003-157.htm
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Putnam Agrees to Pay for Losses Attributable to Excessive Trading
SEC found that Putnam committed securities fraud by failing to disclose potentially self-dealing
excessive short-term and market timing trading.
http://www.sec.gov/news/press/2003-156.htm
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PBHG Funds and Pilgrim Baxter Charged With Fraud
SEC charges the founders with fraud in connection with market timing of the Funds.
http://www.sec.gov/news/press/2003-161.htm
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OFHEO Imposes Corrective Actions and Penalty on Freddie Mac
Findings include that it "disregarded accounting rules, internal controls, disclosure
standards, and ultimately, the public trust in the pursuit of steady earnings growth."
http://www.ofheo.gov/News.asp?FormMode=Release&ID=119
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