Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Consultant Lands Federated In Hot Water Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 02, 2016

A Consultant Lands Federated In Hot Water

News summary by MFWire's editors

The SEC just hit Federated Investors [profile] with a $1.5-million fine, and it's all thanks to a consultant.

J. Christopher Donahue
Federated Investors, Inc.
Chairman, President and Chief Executive Officer
On Friday the regulatory agency unveiled a settlement with the publicly-traded, Pittsburgh-based mutual fund shop. The SEC claims that, between 2001 and 2010, Federated Global Investment Management Corp. used a consultant who, unbeknownst to Federated, served on the boards of four public companies. The penalty is to settle charges that Federated "failed to establish, maintain, and enforce written policies and procedures in connection with FGIMC's use of outside consultants as part of its securities research and analysis services."

Reuters reported on the settlement.

Federated agreed to the cease-and-desist order, according to the SEC, "without admitting or denying the findings."

"There was no finding of any misuse of material nonpublic information," Federated spokeswoman Meghan McAndrew tells Reuters, adding that Federated also addressed the issue before the SEC's investigation.

The consultant in question, unnamed in the SEC's 11-page order, "provided them analysis and buy, sell and hold recommendations with respect to pharmaceutical and biotechnology stocks for consideration" for Federated's Kaufmann Funds. Those three funds now have a combined $8.65 billion in AUM

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  2. FinReg Outlook 2021, March 10
  3. Irish Funds North American Digital Seminar, March 11
  4. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  5. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  6. Women for Impact - A Call to Action, March 16
  7. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  8. Expect Miracles Foundation's Virtual Mystery Game Night, March 24
  9. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  10. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  11. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  12. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  13. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  14. ETF.com Awards 2020, April 20
  15. The 31st Sub-Advised Funds Forum, Apr 20-21
  16. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  17. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  18. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  19. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  20. ICI 2021 General Membership Meeting - Day 1, May 6
  21. ICI 2021 General Membership Meeting - Day 2, May 13
  22. 2021 FINRA Annual Conference, May 18-20
  23. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  24. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  25. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  26. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use