Janus pays out $226m over 'timing' charge

industry news

Professional Adviser
clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •