SEC Urged To Dump Penalty For Mutual Fund's Derivatives Bet

By Ed Beeson (March 16, 2016, 6:12 PM EDT) -- A pair of portfolio managers accused by the U.S. Securities and Exchange Commission of running a mutual fund into the ground with a hidden derivatives bet shouldn't be sanctioned because their investment approach was blessed by outside counsel and within the confines of what was permitted, an attorney for the men told the commission on Wednesday....

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