The Securities and Exchange Commission has filed fraud charges against Pimco Advisors Fund Management, investment adviser to Pimco the US asset manager, plus a subsidiary PEA Capital and senior executives of both firms, for their roles in the mutual fund trading scandal.

Pimco has become the latest in a line of big-name US asset manager to be implicated in the market timing investigation first launched last September. The SEC has charged Pimco Advisors Fund Management with allowing a hedge fund to commit market timing abuses at the expense of ordinary mutual fund holders.