Category Archives: HedgeCo News

Smart and Associates, LLP Names Louis McCall Director Of Accounting and Assurance Services

<body.content> <block> <p>PHILADELPHIA, Dec. 3 /PRNewswire/ — Smart and Associates, LLP is pleased to announce that Louis McCall has joined the firm as Director of Accounting andAssurance Services.</p> <p>(Logo: <a>http://www.newscom.com/cgi-bin/prnh/20031203/DCW043LOGO-a</a> )</p> <p>Lou has over 22 years experience providing clients withaudit, […]

Invesco hit with civil fraud charges

The mutual fund industry took another hit Tuesday as regulators accused Invesco Funds Group and its chief executive of civil fraud. The Securities and Exchange Commission and New York Attorney General Eliot Spitzer separately filed charges that accuse the Denver-based […]

Strong steps down

Strong steps down Embattled funds chairman says he’ll move to divest By KATHLEEN GALLAGHER [email protected], Journal Sentinel Wednesday, December 3, 2003 Battered by three months of accusations against him and his company, Richard S. Strong resigned Tuesday as Strong Financial […]

SEC to curb mutual fund abuses with ‘hard cutoff’ in after-hours

WASHINGTON (AP) — Federal regulators are moving to stanch a tide of trading abuses in mutual funds with new curbs on after-hours trading which brings profits to a favored few fund investors. As the mutual fund scandal widens, the Securities […]

Regulators say Invesco defrauded its shareholders ; N.Y., SEC accuse fund firm of allowing market timing

NEW YORK – Regulators charged Invesco Funds Group Inc. and its chief executive with civil fraud Tuesday in the rapidly expanding mutual fund trading scandal. In separate filings, New York State Attorney General Eliot Spitzer and the Securities and Exchange […]

Invesco, CEO Charged in Mutual Fund Case

Regulators charged Invesco Funds Group Inc. and its chief executive with civil fraud, saying the company set up an intricate system to recruit big-money market timers despite complaints from its ownemployees that shareholders were being harmed. Later Tuesday, Strong Financial […]

Federal, New York Regulators Accuse Invesco Funds Group of Fraud

Dec. 3–Federal and New York regulators filed civil complaints Tuesday against Invesco Funds Group and CEO Raymond Cunningham, the latest salvo launched in the probe of questionable trading practicesin the mutual fund industry. The complaint accuses Cunningham and the company […]

Strong Resigns as Financial Company’s Head

Dec. 3–Battered by three months of accusations against him and his company, Richard S. Strong resigned Tuesday as Strong Financial Corp.’s top executive. Strong, 61, also resigned from the boards of Strong Financial and the Strong mutual funds and said […]

The Dow Index Remains Fairly Valued Says Johnson Graduate School Study

<body.content> <block> <p>ITHACA, N.Y., Dec. 3 /PRNewswire/ — The Parker Center for Investment Research, an academic think tank and research institute housed at CornellUniversity’s Johnson Graduate School of Management, today said its proprietary analysis shows that the Dow Jones Industrial […]

New York Attorney General Launches U.S. Action against Bosses at Invesco

Dec. 3–Powerful US market regulators last night formally accused Invesco Funds Group, an American subsidiary of Amvescap, and four of IFG’s top executives of allowing “massive” fraudulent trading inits shares. New York attorney general Eliot Spitzer and the US Securities […]

Market-Timing Charges Filed against Invesco

Dec. 3–A company with deep Atlanta roots has been caught up in the scandal ripping through the mutual fund industry. New York Attorney General Eliot Spitzer and the Securities and Exchange Commission filed civil charges Tuesday against Invesco Funds Group […]

Bank of America CEO Lowers Growth Forecast Due to Fleet Acquisition

Dec. 3–Bank of America Corp. chief executive Kenneth D. Lewis yesterday scaled back a money-management growth forecast set by the company before its planned acquisition of New England’s largestbank, FleetBoston Financial Corp. and said the resulting company will reduce its […]