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Article: Banc One Investment Advisors Confirms Mutual Funds Settlement Agreements.
- Article from:
- PR Newswire
- Article date:
- June 29, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Banc One Investment Advisors today confirmed it has entered into settlement agreements with the Securities and Exchange Commission (SEC) and the New York Attorney General's office over certain issues related to trading in One Group mutual funds.
These agreements provide for the following key provisions:
-- Banc One Investment Advisors agrees to pay $10 million in total
disgorgement and restitution and $40 million as a penalty, under both
the SEC and Attorney General's agreements. The entire $50 million
will be placed into an escrow account to be distributed to eligible
shareholders through a plan to be created by an independent ...