Western Asset Management Co. Reaches $100 Million SEC Settlement Over Trading Practices
Western Asset Management Co. agreed to pay $100 million to settle an SEC investigation into trading practices tied to a former portfolio manager. The agreement resolves the regulatory matter without admission of wrongdoing.
thehindu.comWestern Asset Management Co. reached a $100 million settlement with the Securities and Exchange Commission to resolve an investigation related to trading practices of its onetime star manager Ken Leech. The agreement ends the regulatory review that examined the firm's trading activities connected to the former manager.
The company will pay the $100 million amount to the SEC under the terms of the settlement. No admission of liability or wrongdoing was included in the agreement. The investigation focused on trading practices during the period when Ken Leech managed funds at the firm.
