|
| Company |
Problem
|
Date |
Fund Police Opinion
|
Rating |
|
|
Janus
|
Hedge fund back-dating trades. Clients were allowed to trade frequently even against firm's policy.
|
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
|
|
Janus
|
Janus announced that $5 Billion will be redeemed by the end of the year by a client. The withdrawal has to be approved by the unnamed client's board of directors.
|
7/30/2004
|
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
|
Large investors paid to market-time in some of Janus's funds.
|
6/1/2004
|
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
|
|
|
Janus
|
Smart Money magazine analyzed nine fund families and their tainted funds. They found that even before the mutual fund scandal began, these funds were underperforming and unimpressive.
|
2/1/2004
|
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
|
|
Janus
|
Executives at Janus sold the right to market time some of its funds to investors.
|
2/1/2004
|
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
|
|
Janus
|
Janus violated fund prospectus by allowing clients to rapid-trade in funds.
|
2/1/2004
|
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
|
|
Janus
|
Charged with market timing.
|
1/1/2004
|
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
|
|
Janus
|
Market-timing in its funds.
|
11/30/2003
|
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 allowed Canary Capital to market time the Janus High Yield Funds and the Janus Mercury Funds
|
11/24/2003
|
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
|
The firm found 12 agreements with market timers.
|
11/4/2003
|
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
|
Named in the mutual fund scandal.
|
11/1/2003
|
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
|
|
JB Oxford Holdings
|
Assisted customers with late-trading and market-timing. It's clearing arm, National Clearing Corp has also been charged.
|
8/26/2004
|
Small outfit.
|
Red Light
|
|
Jefferson National Life (Owned by Inviva)
|
Market-timing in funds.
|
8/3/2004
|
As a general rule, Fund Police does not favor investments sold by insurance companies, such as annuities, variable life, etc. These products often have high fees, initial rates that drop to much lower rates and various gimmicks that infer the investor ca
|
Red Light
|
|
Jefferson Pilot Securities
|
The company was fined with allowing market timing to occur in their variable life policy's subaccounts.
|
3/21/2005
|
This is a wake-up call for some, and others a slap on the wrist.
|
Red Light
|
|
Jefferson Pilot Securities
|
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
|
|
Jeffries
|
Recent investigations uncovered a broker from Jeffries had been gifting Fidelity traders lavishly. Fidelity's rules do not allow their employees to accept gifts that may influence a fund's investment decisions or trading activity.
|
12/13/2004
|
Stay away Joe!
|
Red Light
|
|
Kaplan
|
The SEC has charged Kaplan with late trading and market timing.
|
1/12/2005
|
The "everyone is doing it" mentality on Wall Street is no longer acceptable. The SEC continues to punish the bad guys. We do too.
|
Red Light
|
|
Kaplan
|
Kaplan's execs settled with the SEC for late trading and market timing.
|
1/11/2005
|
The "everyone is doing it" mentality on Wall Street is no longer acceptable. The SEC continues to punish the bad guys. We do too.
|
Red Light
|
|
Legg Mason
|
Legg Mason will soon settle with the SEC for improper trading of mutual funds. It is currently being investigated to late trading and market timing but will not comment further on the investigation.
|
11/8/2004
|
Appears to be a minor infraction based upon small 1.2 million settlement.
|
Yellow Light
|
|
Legg Mason
|
Withheld rebates from investors, failed to properly track which clients were eligible for breakpoints.
|
1/8/2004
|
This fund shop has some funds that have provided investors good returns over the years. Bill Miller is a legendary stock picker. Situation appears to have been limited in nature.
|
Yellow Light
|
|
Legg Mason
|
Announce it may be charged by the SEC for failing to give breakpoint discounts.
|
11/17/2003
|
This fund shop has some funds that have provided investors good returns over the years. Bill Miller is a legendary stock picker. Situation appears to have been limited in nature.
|
Yellow Light
|
|
Lehman Brothers
|
Recently required by the SEC to admit if it had made any financial deals with investors without sending them the prospectus related to their stock or bond offering.
|
11/16/2004
|
Steer clear of Lehman
|
Red Light
|
|
Lehman Brothers
|
NASD charged Co. with failing to give investors breakpoint discounts.
|
2/1/2004
|
This is not the only infraction that has occured.
|
Red Light
|
|
Lincoln Financial Advisors
|
The company was fined $950,000 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
|
|
Linsco Private Ledger
|
The company was fined $2.4 million for selling investors higher-cost mutual fund shares when cheaper options may have been available.
|
12/20/2005
|
HUGE conflicts of interest exist at many large brokerage firms. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Yellow Light
|
|
Linsco Private Ledger
|
Involved in connection with receiving directed brokerage in exchange for preferential treatment from a number of mutual fund companies.
|
6/8/2005
|
HUGE conflicts of interest exist at many large brokerage firms. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Yellow Light
|
|
Linsco Private Ledger
|
The company failed to disclose fee arrangements when selling annuities products to investors. Linsco was recieving payments as incentives to sell preferred products.
|
1/31/2005
|
It looks like their shady practices has changed our opinion. HUGE conflicts of interest exist at many large brokerage firms. FP suggests you seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Yellow Light
|
|
Linsco Private Ledger
|
The company is being sued for not adequately disclosing payments recieved to promote favored annuity products.
|
1/31/2005
|
If you were sold an investment without knowing that the company was paid to promote the product, then you were not adequately informed of biased advice. Case closed!
|
Yellow Light
|
|
Linsco Private Ledger
|
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
|
While FP does not condone hiding information from your clients, Linsco has generally treated their clients fairly over the years.
|
Yellow Light
|
|
Linsco Private Ledger
|
Withheld rebates from investors. Did not pay out their breakpoints.
|
2/12/2004
|
LPL has generally been a class act over the years, with a belief that the client should be treated fairly.
|
Yellow Light
|
|
