Saturday, November 15, 2003
A quarter of US brokers in finance market scandal
The greatest scandal in the history of the mutual fund industry has sent the American saving market reeling. A quarter of the nation’s broker-dealers engaged in illegal late trading. Half of the biggest mutual funds let certain shareholders engage in "market timing" deals that are banned in their prospectuses. 30% of fund manger admitted they gave sensitive portfolio information to privileged individuals. Neville Bennett traces what's been going on.
The greatest scandal in the history of the mutual fund industry has sent the American saving market reeling. A quarter of the nation’s broker-dealers engaged in illegal late trading. Half of the biggest mutual funds let certain shareholders engage in "market timing" deals that are banned in their prospectuses. 30% of fund manger admitted they gave sensitive portfolio information to privileged individuals. Neville Bennett traces what's been going on.
