Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
FYI: Ten years ago at this time, the mutual-fund "timing" scandal was still making headlines. Over Labor Day weekend the year before, news broke that New York Attorney General Eliot Spitzer was investigating mutual-fund companies for allowing hedge funds to engage in trading of mutual-fund shares that hurt long-term investors and in some cases was outright illegal. Regards, Ted http://online.wsj.com/articles/mutual-fund-scandal-ripples-even-a-decade-later-1410120105#printMode
"American Funds, which wasn't implicated in the scandal ..."
I suppose it depends on how one defines "implicated". I think "implicate" is closer to imply, insinuate than it is to shown, proven to be. In any case, not the best wording.
FINRA accused American Funds (Capital Group) of "making improper payments to about 50 brokerages from 2001 to 2003 as an incentive to get them to pitch its funds to investors." LA Times, May 3, 2008.
Capital Group contested the charges, and exonerated itself. AFAIK, it was the only family to do so.
Comments
I suppose it depends on how one defines "implicated". I think "implicate" is closer to imply, insinuate than it is to shown, proven to be. In any case, not the best wording.
FINRA accused American Funds (Capital Group) of "making improper payments to about 50 brokerages from 2001 to 2003 as an incentive to get them to pitch its funds to investors."
LA Times, May 3, 2008.
Capital Group contested the charges, and exonerated itself. AFAIK, it was the only family to do so.