Scudder Settles With SEC Over Directed Brokerages
The managers have agreed to return $14.2 million plus interest worth $2.1 million to a total of 35 funds. The settlement also includes a $3 million civil penalty, the SEC said on Thursday.
Between 2001 and 2003, Scudder made agreements with 18 brokerage firms in which the firms agreed to direct stock trades and commissions generated...
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