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BUSINESS
October 7, 2004 | From Bloomberg News
Mutual fund manager RS Investments and two of its top executives agreed to pay more than $25 million and reduce management fees by $5 million to settle allegations of improper trading, regulators said Wednesday. San Francisco-based RS Investments permitted investors including hedge fund firm Canary Capital Partners to make frequent mutual fund trades, generating $11.5 million in profit for traders and the firm, the Securities and Exchange Commission and New York Atty. Gen.
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BUSINESS
October 7, 2004 | From Bloomberg News
Mutual fund manager RS Investments and two of its top executives agreed to pay more than $25 million and reduce management fees by $5 million to settle allegations of improper trading, regulators said Wednesday. San Francisco-based RS Investments permitted investors including hedge fund firm Canary Capital Partners to make frequent mutual fund trades, generating $11.5 million in profit for traders and the firm, the Securities and Exchange Commission and New York Atty. Gen.
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BUSINESS
March 3, 2004 | Josh Friedman, Times Staff Writer
San Francisco mutual fund manager RS Investments, a spinoff of brokerage Robertson Stephens Inc., disclosed that it is under investigation by the Securities and Exchange Commission and New York Atty. Gen. Eliot Spitzer's office for possible improper trading. The SEC may file civil fraud charges against the firm and certain unidentified employees, RS Investments said in an agency filing late Monday.
BUSINESS
March 3, 2004 | Josh Friedman, Times Staff Writer
San Francisco mutual fund manager RS Investments, a spinoff of brokerage Robertson Stephens Inc., disclosed that it is under investigation by the Securities and Exchange Commission and New York Atty. Gen. Eliot Spitzer's office for possible improper trading. The SEC may file civil fraud charges against the firm and certain unidentified employees, RS Investments said in an agency filing late Monday.
BUSINESS
January 7, 2002 | JOSH FRIEDMAN, TIMES STAFF WRITER
There's one upside to the devastating losses many stock mutual funds have incurred since 2000: A big chunk of any future gains may be sheltered from taxes. "Fund investors are at a rare advantage now because the portfolios have all these losses on their books that can offset future gains," said Steve Cohen, chief financial officer at money manager RS Investments in San Francisco. "It's not the reason you should buy a fund, but it's an added bonus, a silver lining."
BUSINESS
August 29, 2006 | Walter Hamilton, Times Staff Writer
The brokerage unit of Prudential Financial Inc. on Monday admitted criminal wrongdoing and agreed to pay $600 million to settle government investigations of allegations that its brokers engaged in improper mutual fund trading.
BUSINESS
October 8, 2004 | E. Scott Reckard, Times Staff Writer
If you owned shares in a mutual fund that got spanked by regulators, you can look forward to a little piece of nearly $2 billion in restitution money. Just don't expect it to arrive before Christmas -- this year, or maybe even next. Since the mutual fund scandal broke 13 months ago, federal regulators have struck settlements that will cost a dozen fund companies more than $2.8 billion. Of that, nearly $2 billion is earmarked for direct payments to investors.
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