|
| Company |
Problem
|
Date |
Fund Police Opinion
|
Rating |
|
|
Oppenheimer
|
The company failed to give breakpoint discounts to investors who invested in Class-A mutual funds that appeared to be eligible for the discounts.
|
1/10/2006
|
The company have been very cooperative with regulators in providing information. This is a company who wants to correct their mistakes.
|
Yellow Light
|
|
Oppenheimer
|
The company has paid $4.4 million in fines for inadequate controls to prevent money laundering, and registration issues.
|
1/3/2006
|
These issues arose while the company was going through rapid expansion and as a result of this rapid growth, the company had not yet put in place all the processes and procedures they should have.
|
Yellow Light
|
|
Oppenheimer
|
The company voluntarily paid $15.8 million to funds that were affected by fund-trading commissions. The company also voluntarily reported the violations to regulators.
|
9/16/2005
|
Good work Oppenheimer! There are not too many companies that will admit wrongdoing and correct it themselves.
|
Yellow Light
|
|
|
Oppenheimer
|
Preferred by A.G. Edwards, Oppenheimer was paying kickbacks to brokers to sell their funds.
|
4/14/2005
|
Bite the hand that feeds you if the food is bad!
|
Yellow Light
|
|
Oppenheimer
|
Oppenheimer was investigated for allegations of improper mutual fund trading.
|
4/6/2005
|
We have updated their status from red to yellow.
|
Yellow Light
|
|
Oppenheimer
|
Oppenheimer has been subpoenaed for improper trading of mutual funds.
|
11/4/2004
|
Yet another instance of fund companies placing profits their own profits ahead of regular shareholders. With many untainted funds to choose from, FP suggests a steer clear from this family until the dust settles.
|
Yellow Light
|
|
Pacific Life Insurance
|
Company sales reps were selling variable annuities in qualified retirement plans by explaining tax-deferral advantages of the annuities; but qualified plans already are tax-deferred savings vehicles! The sales reps pushed the annuities to receive higher commissions.
|
9/26/2005
|
It's like Highway Robbery. Throw the bums out!!!!!!!
|
Red Light
|
|
Paulson Investments
|
The company has been accused of improper mutual-fund market timing.
|
5/13/2005
|
HUGE conflicts of interest exist at many large firms. Never trust a company who has to pay a big fine, but wants you to think they did nothing wrong. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Red Light
|
|
Pax World
|
Did not prevent investors from market timing in their High-Yield Fund in '03.
|
1/26/2005
|
You admitted that you did something wrong. Since you have no other problems, GREEN LIGHT. The other pompous fund company giants could learn some positive ethics from Pax World.
|
Green Light
|
|
PBHG
|
The company's founders facilitated improper trading in their own funds. They made millions for themselves.
|
2/1/2005
|
Why bother with PBHG? Look elsewhere.
|
Red Light
|
|
PBHG
|
Gary Pilgrim and Harold Baxter, founders of PBHG, were ordered to pay $80 million a piece for their role in improper trading of funds at PBHG.
|
11/18/2004
|
This has red light written all over it.
|
Red Light
|
|
PBHG
|
Pilgrim and Baxter allowed favored investors, including themselves, to improperly trade in their funds at the detriment of long-term investors. Pilgrim and Baxter each made several millions in profits from the improper trading deals.
|
11/17/2004
|
Worst possible offenders.
|
Red Light
|
|
PBHG
|
Founders facilitated rapid trading to make millions for themselves
|
8/1/2004
|
While it is great to hear that the founders are gone, the depth of the abuse that was heaped on investors in PBHG funds, combined with their poor performance leads Fund Police to say stat away.
|
Red Light
|
|
PBHG
|
Parent company, Old Mutual, demands restitution from PBHG for market-timing of its hedge funds.
|
8/1/2004
|
While it is great to hear that the founders are gone, the depth of the abuse that was heaped on investors in PBHG funds, combined with their poor performance leads Fund Police to say stay away.
|
Red Light
|
|
PBHG
|
Since the trading abuses occurred, the company has made several changes to their policy and structure.
|
7/26/2004
|
Pilgrim and Baxter are two of the worst offenders of the whole mutual fund scandal and mess. With them, greed had no ends.
|
Red Light
|
|
PBHG
|
Charged with Market-timing
|
6/1/2004
|
Pilgrim and Baxter are two of the worst offenders of the whole mutual fund scandal and mess. With them, greed had no ends.
|
Red Light
|
|
PBHG
|
Founders facilitated rapid trading.
|
6/1/2004
|
Pilgrim and Baxter are two of the worst offenders of the whole mutual fund scandal and mess. With them, greed had no ends.
|
Red Light
|
|
PBHG
|
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
|
Pilgrim and Baxter are two of the worst offenders of the whole mutual fund scandal and mess. With them, greed had no ends.
|
Red Light
|
|
PBHG
|
SEC and Spitzer filed a suit against PBHG against the founders.
|
2/1/2004
|
Pilgrim and Baxter are two of the worst offenders of the whole mutual fund scandal and mess. With them, greed had no ends.
|
Red Light
|
|
PBHG
|
Trading abuses occurred when PBHG invested in a hedge fund that was allowed to rapid-trade in the firm's funds. Also, PBHG made a deal with Wall Street Discount Corp. to allow its clients to rapid-trade in its funds.
|
12/9/2003
|
Pilgrim and Baxter are two of the worst offenders of the whole mutual fund scandal and mess. With them, greed had no ends.
|
Red Light
|
|
PBHG
|
Founders accused of fraud. They allowed two investors to trade billions in and out of funds while discouraging others to do so.
|
11/21/2003
|
Pilgrim and Baxter are two of the worst offenders of the whole mutual fund scandal and mess. With them, greed had no ends.
|
Red Light
|
|
PFS Investments
|
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
|
|
Pharos Capital
|
Same fund mgrs from Alex Brown scandal.
|
11/1/2003
|
Same Managers, same lack of ethics.
|
Red Light
|
|
Pimco
|
Pimco did not fully disclose their directed-brokerage practices and were charged by the SEC.
|
11/24/2004
|
Caution is warranted.
|
Yellow Light
|
|
Pimco
|
SEC charged the company with failing to disclose information to investors regarding directed broker compensation deals where they sold favored funds.
|
10/1/2004
|
Pimco got "nicked" in the fund scandal and we expect they will eventually get back to Green light status.
|
Yellow Light
|
|
Pimco
|
SEC charged Pimco funds group with improper trading practices.
|
9/20/2004
|
These former Pimco guys are just that-former. Pimco got "nicked" in the fund scandal and we expect they will eventually get back to Green light status.
|
Yellow Light
|
|
Pimco
|
Preferred clients were allowed to market time $4 billion in funds.
|
9/17/2004
|
Pimco got "nicked" in the fund scandal and we expect they will eventually get back to Green light status.
|
Yellow Light
|
|
Pimco
|
Pimco has been fined by the SEC for not disclosing how they directed trades to 50 broker/dealers to defray shelf space costs. The fine amounted to $20.6 million.
|
9/16/2004
|
We love the fact that they have settled with SEC. We hate the fact they refuse to admit they did anything wrong. It is FP philosophy to deny green light status to groups that refuse to admit they wronged investors.
|
Yellow Light
|
|
Pimco
|
Near settlement with the SEC over charges that Pimco did not disclose properly information on broker compensation deals.
|
9/3/2004
|
It is FP philosophy to deny green light status to groups that refuse to admit they wronged investors.
|
Yellow Light
|
|
Pimco
|
Charges against bond operations filed for rapid-trading. Company allowed funds to be traded in violation of their prospectus.
|
8/1/2004
|
PIMCO up until this point in time has had a sterling reputation, mainly based on the reputation of bond guru Bill Gross. Most investors are at Pimco for Bill Gross and if that is your case it is ok to stay there. Performance in the equity fund area of P
|
Yellow Light
|
|
