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Rating:SEC Puts Managers Under Microscope Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 30, 2003

SEC Puts Managers Under Microscope

by: Nicole Halsey

The SEC could make investigations into the personal trading records of mutual fund managers protocol, the New York Post reports.

The agency has requested information on the personal trading records of the managers at the mutual fund companies it is currently investigating as part of its market timing and late trading investigation.

Sources told the paper that the SEC will make such a move routine in the future, outdating its current practice of practice of looking at a manager's personal records for stocks and bond deals.

Before, the SEC required that portfolio managers report stock and bond transactions quarterly to the fund's compliance department, which would look at brokerage records to make sure the reports matched. The department would also check to make sure that managers were not front-running the stocks they traded in.

Under the new setup, the SEC will examine how managers trade in their own funds to see if they are timing.  

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