News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Bear Stearns faces SEC fine over mutual fund trading

Profits up 24% as Bear Stearns overcomes bond market decline

Bear Stearns has admitted that it faces possible fines after the US Securities and Exchange Commission recommended filing civil charges related to its role in the mutual fund trading scandal.

The SEC has informed Bear Stearns' that staff in its enforcement division are considering recommending a civil injunctive action against the firm as part of its investigation into market timing - the rapid buying and selling of mutual funds which is banned in most funds.

WSJ Logo