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Mutual Fund Trading Abuses - SEC Consistently Applied Procedures in Setting Penalties, But Could Strengthen Certain Internal Controls: Gao-05-385 (Paperback) Loot Price: R223
Discovery Miles 2 230
You Save: R45 (17%)
Mutual Fund Trading Abuses - SEC Consistently Applied Procedures in Setting Penalties, But Could Strengthen Certain Internal...
Mutual Fund Trading Abuses - SEC Consistently Applied Procedures in Setting Penalties, But Could Strengthen Certain Internal...

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Mutual Fund Trading Abuses - SEC Consistently Applied Procedures in Setting Penalties, But Could Strengthen Certain Internal Controls: Gao-05-385 (Paperback)

U S Government Accountability Office (G, U.S. Government Accountability Office

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List price R268 Loot Price R223 Discovery Miles 2 230 You Save R45 (17%)

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The Securities and Exchange Commission (SEC) and other regulators have recently identified two significant types of trading abuses--market timing and late trading--in the mutual fund industry. The more widespread abuse was market timing, which involved situations where investment advisers (firms that may manage mutual funds) entered into undisclosed arrangements with favored customers who were permitted to trade frequently in contravention of stated trading limits. These arrangements harmed long-term mutual fund shareholders by increasing transaction costs and lowering fund returns. Late trading, a significant but less widespread abuse, occurs when investors place trades after the mutual fund has calculated the price of its shares, usually at the 4:00 p.m. Eastern Time close of financial markets, but receive that day's fund share price. Investors who late trade have an opportunity to profit, which is not available to other investors. To assess SEC's efforts to impose penalties on violators, this report (1) discusses SEC's civil penalties in settled trading abuse cases, (2) provides information on related criminal enforcement actions, and (3) evaluates SEC's criminal referral procedures.

General

Imprint: Bibliogov
Country of origin: United States
Release date: June 2013
First published: June 2013
Creators: U S Government Accountability Office (G • U.S. Government Accountability Office
Dimensions: 246 x 189 x 3mm (L x W x T)
Format: Paperback - Trade
Pages: 48
ISBN-13: 978-1-289-11798-6
Barcode: 9781289117986
Categories: Promotions
Books > Social sciences > Politics & government
Books > Social sciences > Politics & government > General
LSN: 1-289-11798-5

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