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Regulation

October 02, 1995| Times Staff and Wire Reports

SEC Takes Action Against 2: The Securities and Exchange Commission said it settled charges with Roger W. Honour, manager of the Montgomery Growth stock fund. While managing money for Alliance Capital Management and then Twentieth Century Funds between 1990 and 1992, the SEC alleges that Honour "engaged in a pattern of personal trading in conflict of interest with his clients." Without admitting or denying guilt, Honour agreed to disgorge $115,615 in profits and pay a $275,000 fine. In a separate action, the SEC alleged that Los Angeles-based Keypoint Financial Corp. and its principal, Michael R. Warren, illegally sold insurance annuity contracts and misappropriated client funds in 1991 and 1992. Keypoint and Warren consented to a judgment with the SEC without admitting or denying guilt.

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