|
| Company |
Problem
|
Date |
Fund Police Opinion
|
Rating |
|
|
Invesco (Distributed by AIM and Amvescap)
|
Market-timing was arranged in some of their funds. Charged with fraud by the SEC.
|
2/1/2005
|
With Invesco officially is gone, we hope AIM behaves itself.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
AIM sells the same type of high fee funds to military families that have recently come under scruitiny of the SEC and NASD. The funds are no longer sold to regular investors, but are still sold to military families.
|
12/10/2004
|
Invesco only learned by example after seeing what happend to FC, to re-examine their offering of contractual plans. FP rates this a red light.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Settlement papers filed by the SEC revealed that two senior executives at AIM Advisors, Inc. allowed for rapid trading in their foreign funds. Portfolio managers complained about the improper trading because it increased the difficulty of managing the funds. The exectutives ignored the complaints and allowed for tens of millions of dollars worth of trades to be made between 2001 and 2003.
|
10/11/2004
|
Throw the bums out.
|
Red Light
|
|
|
Invesco (Distributed by AIM and Amvescap)
|
The chief investment officer for AIM Investments has taken a voluntary leave of absence in an effort to "resolve" the current regulatory investigation into his involvement with the market timing charges brought against AIM.
|
10/5/2004
|
Throw them out again!
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Market timing charges were settled with state and federal regulators. They agreed to pay $450 million.
|
9/10/2004
|
Steer clear
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Amvescap, parent company of Invesco, settled with regulators for $451 million for improper trading activity.
|
9/8/2004
|
$451 million means you really screwed up. They are getting absorbed via the sale of the fund group. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Invesco and AIM have settled with the SEC for allowing favorved investors to rapidly trade in and out of funds. Long-term shareholders were negatively affected by these practices.
|
9/8/2004
|
Steer clear.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
SEC settled charges with Invesco's former CIO, national sales manager, and assistant VP of sales for $150K, $150K, and $40K respectively. The three were involved market-timing activity.
|
9/8/2004
|
They are getting absorbed via the sale of the fund group. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Charged with market-timing in its Invesco Funds Group.
|
8/30/2004
|
Performance had slipped at Invesco before any regulatory issues. We like seeing a fund company admit when they were wrong.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Firm and CEO exempted large investors from rapid-trading policy.
|
8/1/2004
|
Performance had slipped at Invesco before any regulatory issues. We like seeing a fund company admit when they were wrong.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
CEO, CIO, and Senior VP of Sales arranged and facilitated market-timing in the company's funds.
|
8/1/2004
|
Three wrongs don’t make a right!
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
|
7/28/2004
|
Performance had slipped at Invesco before any regulatory issues.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
The SEC will file additional claims against Invesco. The new claims will include additional parties involved in market-timing.
|
7/7/2004
|
The beat goes on.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Accused of fraud by SEC and Eliot Spitzer for allowing market-timing.
|
6/1/2004
|
Performance had slipped at Invesco before any regulatory issues.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Initially it denied any violations of fund trading. After an internal investigation, Amvescap voluntarily submitted material to the SEC and entered into negotiations to settle.
|
2/1/2004
|
Performance had slipped at Invesco before any regulatory issues.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Civil charges have been filed by Spitzer and the SEC against Invesco for allowing clients to rapid trade in its funds.
|
2/1/2004
|
Performance had slipped at Invesco before any regulatory issues.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Charges of fraud from the SEC and Eliot Spitzer. CEO was also involved for allowing market timing.
|
1/1/2004
|
Performance had slipped at Invesco before any regulatory issues.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Civil securities-fraud charges filed against Invesco by SEC and Eliot Spitzer for allowing large investors to market-time in funds which harmed long-term investors.
|
11/30/2003
|
Performance had slipped at Invesco before any regulatory issues.
|
Red Light
|
|
Invesco (Distributed by AIM and Amvescap)
|
Announced it was subpoenaed to release mutual fund trading activity. The New York Attorney General's office is accusing the company of improper trading.
|
9/5/2003
|
Performance had slipped at Invesco before any regulatory issues.
|
Red Light
|
|
INVEST Financial
|
The company was fined $1.52 million by the NASD for directed-brokerage violations.
|
10/17/2005
|
This is why fee-only advisors serve your best interest. Go to www.NAPFA.com for additional information.
|
Red Light
|
|
Investment Centers of America
|
The company was fined $363,500 by the NASD for directed-brokerage violations.
|
10/17/2005
|
This is why fee-only advisors serve your best interest. Go to www.NAPFA.com for additional information.
|
Red Light
|
|
Inviva (Owns Jefferson National Life)
|
Allowed Market-timing in variable annuity funds that were not supposed to allow the practice.
|
8/10/2004
|
Fund Police believes the layers of fat and hidden arrangements are probably the worst with insurance products, such as annuities.
|
Red Light
|
|
J.J.B. Hillard
|
The company failed to report information about their brokers to customers. The information included customer complaints, regulatory actions, criminal charges and convictions.
|
12/2/2004
|
Hiding information from your clients does not make the problem disappear. FP wonders what else are they hiding? FP warns you to steer clear of companies who have “baggage” and are unwilling to come clean.
|
Red Light
|
|
J.P. Morgan Chase and Co.
|
A class action was filed against the company by World Com investors. The suit claimed J.P Morgan did not look closely enough at WorldCom's financial statements before selling billions in bonds.
|
3/21/2005
|
That's an expensive "oops"!
|
Red Light
|
|
J.P. Morgan Chase and Co.
|
J.P. Morgan Chase and Co. assisted Enron by creating misleading transactions so the energy company could disguise billions of dollars of loans as commodity trades.
|
9/22/2004
|
While this is not a fund scandal, it speaks to the HUGE conflicts of interest that exist at many large brokerage firms. We hate the fact they refuse to admit they did anything wrong. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com
|
Red Light
|
|
J.P. Turner and Company
|
The company failed to report information about their brokers to customers. The information included customer complaints, regulatory actions, criminal charges and convictions.
|
12/2/2004
|
Hiding information from your clients does not make the problem disappear. FP wonders what else are they hiding? FP warns you to steer clear of companies who have “baggage” and are unwilling to come clean.
|
Red Light
|
|
Janus
|
Janus is facing 'market-timing' charges by the SEC in both Kansas and West Virginia.
|
4/25/2005
|
We continue to rate this company with a red light.
|
Red Light
|
|
Janus
|
Executives at the company SOLD the rights for selected investors to market time their funds.
|
2/1/2005
|
Morningstar advises caution. We recommend to keep your money out for now.
|
Red Light
|
|
Janus
|
Janus reports that a client will be withdrawing 5 Billion in funds by the end of the year.
|
8/9/2004
|
Before any regulatory problems, Janus performance had dropped way off due to their high octane growth stock approach. Too many problems and too much turnover of fund managers for Fund Police to support.
|
Red Light
|
|
Janus
|
Janus has seen $17.5 billion leave its funds since special deals to day-trade in its funds.
|
8/1/2004
|
Before any regulatory problems, Janus performance had dropped way off due to their high octane growth stock approach. Too many problems and too much turnover of fund managers for Fund Police to support.
|
Red Light
|
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