State Accuses ING Units Of Hiding Information

Law360, New York (June 9, 2006, 12:00 AM EDT) -- In the latest chapter in mutual fund industry’s market-timing problems, New Hampshire authorities accused two units of Dutch insurer ING Group this week of securities violations involving a state retirement plan.

Officials of the state’s Bureau of Securities Regulation also signaled that ING’s alleged problems with market-timing, late trading and the nondisclosure of revenue-sharing agreements could be of a national scope.

State authorities have given ING Life Insurance and Annuity Co. and ING Financial Advisors LLC about a month to respond to various allegations relating to...
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