Eliot Spitzer and Putnam Issues -- Vanderbilt
Date Submitted: 11/15/2003 09:56:32
Category: / Society & Culture / Environment
Length: 3 pages (699 words)
Category: / Society & Culture / Environment
Length: 3 pages (699 words)
Eliot Spitzer and Putnam Issues When Eliot Spitzer, New York's attorney-general, and William Galvin, Massachusetts' state regulator, started to poke around the trading practices of the mutual fund industry, the big players reacted resentfully. On Monday November 3rd, Lawrence Lasser was fired as chief executive of Putnam Investments following a probe into "market-timing." Market timing has been described as using frequent trading to take advantage of old prices. The same day, officials from the SEC, …
Is this Essay helpful? Join now to read this particular paper
and access over 480,000 just like this GET BETTER GRADES
and access over 480,000 just like this GET BETTER GRADES
…In the full-page ads appearing in The Wall Street Journal, The New York Times, The Boston Globe and the Boston Herald, the company outlines recent management changes and pledges "to create the highest standards of integrity and reliability in the industry." The regulatory scrutiny is bound to lead to an overhaul of industry practices, including more transparency in fees and more of an overseeing relationship between fund trustees and fund managers. (New York Times, Forbes)
Need a custom written paper? Let our professional writers save your time.