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A.G. Edwards Faces Three Investigations For Market Timing

Law360 (October 12, 2005, 12:00 AM EDT) -- Three investigations have been initiated into the legality of mutual fund transactions made by brokerage A.G. Edwards,according to wire reports.

The company faces two investigations by the Securities and Exchange Commission and said that the New York Stock Exchange is considering initiating disciplinary action.

The investigations stem from claims that the firm engaged in market timing, in which a company makes frequent trades in order to capitalize on ups and downs in the market. While market timing is not illegal, many mutual funds prohibit it....
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