Denver Post – The U.S. Securities and Exchange Commission on Monday accused three former Janus Capital Group executives of allowing market-timing transactions, or prohibited rapid trades in and outof mutual funds.<\/p>\n
The SEC alleges that Warren Lammert, former manager of the Janus Mercury Fund; Lars Soderberg, a former executive vice president responsible for sales and product development; and Lance Newcomb, a former regional sales director, violated federal securities rules by allowing brokerage customers to make frequent trades in Janus mutual funds.<\/span><\/p>\n The SEC has requested that the three, who are no longer employed at Denver-based Janus, appear before an administrative law judge and is seeking undisclosed fines.<\/span><\/p>\n The Janus Mercury Fund, like other Janus funds, limited investors to four exchanges per year, warning them frequent trades could disrupt investment strategy and raise expenses for all investors.<\/span><\/p>\n