(Reuters) It’s the second enforcement case in two months involving the risky practice of cross trading, Putnam Investment Management, LLC and one of its former portfolio managers have settled Securities and Exchange Commission (SEC) charges related to “dozens of prearranged cross trades between advisory client accounts in a manner that disadvantaged some of the adviser’s clients,” the SEC said.
SEC Flexes Muscle Over Cross Trades in Fining, Suspending Ex-Putnam Manager
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