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Article: New York Mutual Fund Manager Suspends Workers for Market Timing.

Article from:
Knight Ridder/Tribune Business News
Article date:
October 1, 2003
Copyright

By Daniel Dunaief, Daily News, New York Knight Ridder/Tribune Business News

Oct. 1--Mutual fund manager Alliance Capital suspended two employees after discovering conflicts of interest in trading activities.

Alliance said a portfolio manager of the Alliance Bernstein Technology Fund and an exec involved in selling the firm's hedge funds were both engaged in market timing.

A spokesman for Alliance declined to name the suspended employees, but since 1992, the manager of the technology fund has been Gerald Malone.

The Securities and Exchange Commission and Spitzer have been probing mutual fund firms to uncover the extent of late ...

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