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SEC Settles With Ex-Putnam CEO

Law360 (January 9, 2007, 12:00 AM EST) -- Former Putnam Investments CEO Lawrence J. Lasser will pay $75,000 as part of a settlement to settle allegations that he encouraged the use of mutual fund brokerage commissions to pay for “shelf space” at brokerage firms, the Securities and Exchange Commission said Tuesday.

In March 2005, Putnam paid $40 million to settle with the SEC, which accused the financial services company of paying brokers to promote Putnam funds in exchange for commissions from the mutual fund company, a practice known as giving a fund shelf space....
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