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Citigroup
MF unit faces probe by prosecutors
New York: Citigroup on Tuesday said federal prosecutors
are investigating its mutual fund unit over its relationship
with a transfer agent services provider.
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Putnam
to end rewards to brokers
New York: Putnam Investments plans to stop rewarding
brokers who sell more of its mutual funds by steering
commissions to their firms, The Wall Street Journal reported
on Wednesday
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Security
Trust Co accused of colluding with hedge funds
New York: Regulators accused retirement plan services
company Security Trust Co on Tuesday of helping certain
hedge funds make illegal trades in MF shares, and ordered
it to shut down in the most severe legal action taken
since the rapidly broadening probe was opened.
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