{"id":1303,"date":"2003-10-07T00:00:00","date_gmt":"2003-10-07T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"new-york-ag-subpoenas-fidelity-in-probe","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/10\/2003\/new-york-ag-subpoenas-fidelity-in-probe.html","title":{"rendered":"New York AG Subpoenas Fidelity in Probe"},"content":{"rendered":"<p>Fidelity Investments, one of the nation&#8217;s biggest mutual fund concerns, says it has received a subpoena from New York Attorney General Eliot Spitzer&#8217;s office connected to its wide-ranginginvestigation of potential fund-trading abuses.<\/p>\n<p>  Anne Crowley, a spokeswoman for Boston-based Fidelity, said the company received the subpoena late last week and is cooperating with the investigation.<\/p>\n<p>  &#8220;The request for information was regarding market timing and late trading. Those are the same targets for which (Spitzer) is seeking information from several other firms,&#8221; she said. &#8220;We understand  it to be part of a broader look at market timing and late trading.&#8221;<\/p>\n<p>  Crowley said Fidelity has cooperated with similar requests for information from the U.S. Securities and Exchange Commission and the National Association of Securities Dealers.<\/p>\n<p>  For the past month, Spitzer&#8217;s office has been investigating possible illegal trading practices by hedge funds with mutual fund companies, including making deals after the market had closed for the  day.<\/p>\n<p>  In Massachusetts, Secretary of State William F. Galvin, whose office regulates securities trading in the Bay State, has also investigated financial services firms including Prudential Securities  and Putnam Investments.<\/p>\n<p>  A growing list of mutual fund companies have fired or suspended employees following internal investigations of trading activities following state probes of trading practices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fidelity Investments, one of the nation&#8217;s biggest mutual fund concerns, says it has received a subpoena from New York Attorney General Eliot Spitzer&#8217;s office connected to its wide-ranginginvestigation of potential fund-trading abuses. Anne Crowley, a spokeswoman for Boston-based Fidelity, said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1303","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/1303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=1303"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/1303\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=1303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=1303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=1303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}