|
| Company |
Problem
|
Date |
Fund Police Opinion
|
Rating |
|
|
Nations Funds (Owned by Bank of America)
|
Charges of late-trading and market-timing.
|
8/1/2004
|
Fund Police in general does not favor funds offered from large banks-especially when they allow a fund managed for children to be taken advantage of.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
Charged with late trading and rapid trading.
|
8/1/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
Late-trading and market-timing in a hedge fund were facilitated by Nations.
|
6/1/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
|
Nations Funds (Owned by Bank of America)
|
Bank of America settled with the SEC over the charges of rapid trading.
|
3/17/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
Allowed marketing timing in mutual fund, including one for "young investors" (kids).
|
2/13/2004
|
Fund Police in general does not favor funds offered from large banks-especially when they allow a fund managed for children to be taken advantage of.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
Assisted Canary Capital place late trades. B of A broker charged for placing the late trades.
|
2/1/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
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
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
Late Trading and market-timing in hedge fund.
|
2/1/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
Employees allowed for Canary Capital to improperly trade in its Nation's Funds.
|
11/4/2003
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
Nations Funds (Owned by Bank of America)
|
Named in the mutual fund scandal.
|
11/1/2003
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
Nationwide Financial Services
|
Lawsuit from 2001 filed by a group of employers alleged that the company's revenue sharing arrangements acted as kickbacks. The case has re-emerged in court and will possibly succeed this time.
|
8/23/2004
|
As a general rule, Fund Police does not favor hedge funds. These products often have high fees, poor disclosure and are typically not regulated by the SEC.
|
Red Light
|
|
Nationwide Financial Services
|
Announced regulators are investigating market-timing in funds.
|
8/23/2004
|
As a general rule, Fund Police does not favor hedge funds. These products often have high fees, poor disclosure and are typically not regulated by the SEC.
|
Red Light
|
|
Nevis Capital Management
|
False claims were made that the company distributed IPOs to clients, when in fact it had placed the allocations into company funds.
|
5/15/2004
|
Small outfit.
|
Red Light
|
|
New England 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
|
|
Nuveen
|
The company is being investigated by the SEC for overcharging performance based fees by $2.8 Million.
|
3/4/2005
|
Revenue sharing and directed brokerage are also underinvestigation for this company. We advise caution until further notice.
|
Yellow Light
|
|
Nuveen
|
The SEC is acusing Nuveen of over charging mutual funds for its performance fees.
|
3/4/2005
|
The company has not denied fault in the matter. We're sitting on the fence for now.
|
Yellow Light
|
|
NYLife 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 is a big no-no! Use a FEE-ONLY advisor and consider lower cost ETFs.
|
Red Light
|
|
One Group (Owned by Bank One)
|
A hedge fund was allowed to trade in their funds in exchange for sticky assets (temporary funds that improve their #s)
|
2/1/2005
|
We don't advocate improper trading or most hedge funds for that matter.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Allowed Canary Capital to rapid trade its One Group funds.
|
8/1/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Disclosed insider info to CEO of One Group and allowed for improper trading practices to occur. Did not charge redemption fees (Totaling 4M) for rapid trading within One Group's funds.
|
6/29/2004
|
And we thought Dick Strong and Gary Pilgrim were the only guys willing to use inside information that favored fund company executives at the expense of regular shareholders.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Allowed marketing timing in hedge fund for sticky assets
|
6/1/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Allowed for market-timing.
|
6/1/2004
|
And we thought Dick Strong and Gary Pilgrim were the only guys willing to use inside information that favored fund company executives at the expense of regular shareholders.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Fund accused of making rapid trades for Canary Capital and not collection redemption fees.
|
2/1/2004
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
One Group (Owned by Bank One)
|
CEO was not charged redemption fees for rapid trading by Banc One.
|
2/1/2004
|
Investors are better off seeking smaller fund firms where the manager has significant skin in the game.
|
Red Light
|
|
One Group (Owned by Bank One)
|
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
|
Investors are better off seeking smaller fund firms where the manager has significant skin in the game.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Allowed marketing timing in hedge fund for sticky assets
|
2/1/2004
|
Nothing special here.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Market timing charges.
|
1/1/2004
|
Investors are better off seeking smaller fund firms where the manager has significant skin in the game.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Allowed for market timing in 11 of its One Group funds by Canary Capital.
|
11/4/2003
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
One Group (Owned by Bank One)
|
Named in the mutual fund scandal.
|
11/1/2003
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
One Group (Owned by Bank One)
|
NY Attorney General Elliot Spitzer and SEC charge the company with market-timing
|
11/1/2003
|
Fund Police in general does not favor funds offered from large banks.
|
Red Light
|
|
