SEC to bring in new regulations to control market timing abuses

New rules to attack the abusive practices of market timing are to be introduced by the US Securities and Exchange Commission, in its bid to stamp out these kind of abuses in the fund industry. Over the past year, mutual fund companies such as Putnam, Janus, Bank of America and Invesco have all come under investigation for their alleged involvement in activities - such as late trading and market timing - that benefited short-term traders at the expense of long-term investors. This scandal has most been prevalent in the US mutual fund industry, but the European mutual fund industry has n...