Janus Capital Group has shaken up its management team and reached a $226m settlement with regulator...
Janus Capital Group has shaken up its management team and reached a $226m settlement with regulators in a bid to draw a line under allegations of market timing. The company has agreed to set up a $100m pool from which to compensate investors for the "adverse effects" of frequent trading and other mutual fund practices. It has also agreed to reduce its management fees for the next five years and make $1.2m in settlement-related payments required by the state of Colorado. Janus has also parted company with chief executive officer Mark Whiston - who is being replaced by Steve Scheid - b...
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