|
| Company |
Problem
|
Date |
Fund Police Opinion
|
Rating |
|
|
Bridgeway Capital Management
|
The president of Bridgeway issued a personal apology to shareholders for the company's improper trading activities.
|
10/25/2004
|
What a guy. In a business where so few are willing to admit any culpability, they fully admit they made a mistake. Game, set, and match. FP says you can trust a man who quickly admits his mistakes and fixes them without going through lawyers trying to make it sound like he did nothing wrong.
|
Green Light
|
|
Bridgeway Capital Management
|
SEC charged Bridgeway with overcharging its customers in funds from an advisor's mistaken computation of performance-based fees of those funds.
|
9/17/2004
|
In a business where so few are willing to admit any culpability, they fully admit they made a mistake. Game, set, and match. FP says you can trust a man who quickly admits his mistakes and fixes them without going through lawyers trying to make it sound like he did nothing wrong.
|
Green Light
|
|
Bridgeway Capital Management
|
Illegal performance-based fees were charged to investors in three mutual funds from Bridgeway Capital Management.
|
9/16/2004
|
In a business where so few are willing to admit any culpability, they fully admit they made a mistake. FP says you can trust a man who quickly admits his mistakes and fixes them without going through lawyers trying to make it sound like he did nothing wrong.
|
Green Light
|
|
|
Bridgeway Capital Management
|
SEC charged the company with over-charging mutual-fund customers.
|
9/16/2004
|
In a business where so few are willing to admit any culpability, they fully admit they made a mistake. Game, set, and match. FP says you can trust a man who quickly admits his mistakes and fixes them without going through lawyers trying to make it sound like he did nothing wrong.
|
Green Light
|
|
Bridgeway Capital Management
|
An extra $5 million of performance-based advisory fees was charged to investors in three Bridgeway funds.
|
9/15/2004
|
In a business where so few are willing to admit any culpability, they fully admit they made a mistake. Game, set, and match. FP says you can trust a man who quickly admits his mistakes and fixes them without going through lawyers trying to make it sound like he did nothing wrong.
|
Green Light
|
|
Gabelli Asset Management
|
SEC has subpoenaed Gabelli for allowing a client to market time in one of its mutual funds. Gabelli disclosed the information to the New York Attorney General in October 2003.
|
10/11/2004
|
Gabelli, FP loves you. You admitted that you did something wrong. Since you have no other problems, GREEN LIGHT BABY. The other pompous fund company giants could learn some positive ethics from Gabelli.
|
Green Light
|
|
Morningstar
|
Erroneous fund data that was recieved by Morningstar was not correctly updated on its website. The data reported that the Rock Canyon Top Flight Fund had seen a 25% increase in value from a capital gains distribution. The numbers were not corrected after Morningstar was notified by the source of the inflated data.
|
10/4/2004
|
This shows that when you put too much faith in any one information provider, they may disappoint. We predict M-Star will get this resolved. That said, look at Lipper and other data vendors to diversify your information sources.
|
Green Light
|
|
Morningstar
|
SEC is investigating whether or not to charge Morningstar for not promptly updating incorrect data on their website regarding a fund's performance. A Wells notice was given to Morningstar on May 24, 2004 notifying them of the impending investigation.
|
9/27/2004
|
This shows that when you put too much faith in any one information provider, they may disappoint. We predict M-Star will get this resolved. That said, look at Lipper and other data vendors to diversify your information sources.
|
Green Light
|
|
Morningstar
|
Morningstar, an advocate for shareholders, is being pursued by the SEC for a possible violation by not updating their website with then-current information about a fund's performance. The outdated info made the fund appear to have collected more generous returns than it actually had.
|
9/27/2004
|
This shows that when you put too much faith in any one information provider, they may disappoint. We predict M-Star will get this resolved. That said, look at Lipper and other data vendors to diversify your information sources.
|
Green Light
|
|
Morningstar
|
Morningstar may face civil charges by the SEC for publishing inanccurate returns data on their website about a fund, being notified of the mistake, and not promptly correcting that mistake.
|
9/24/2004
|
This shows that when you put too much faith in any one information provider, they may disappoint. We predict M-Star will get this resolved. That said, look at Lipper and other data vendors to diversify your information sources.
|
Green 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
|
|
Schwab Institutional
|
Many Fee-Only advisors work with this division of the company. It is separate from the retail side of Charles Schwab Corp.
|
2/3/2005
|
Green light for Schwab Institutional and fee-only advisors. Both provide reputable advice to investors.
|
Green Light
|
|
T. Rowe Price
|
T. Rowe is working towards complying with the new SEC rules that prohibit fund companies from using commissions to reward brokerage firms for promoting their funds.
|
10/27/2004
|
TRP has come through very clean during the whole fund scandal mess. If you are a self directed investor, this is a good fund family.
|
Green Light
|
|
T. Rowe Price
|
The SEC has requested documents that cover the details of how funds are chosen for 401(K) and other retirement plans to see if there are conflicts of interest. This investigation began as a result of the rampant abuses among mutual funds.
|
7/7/2004
|
FundPolice predicts that the up until this point "hidden and guarded conflicts of interest arrangements" will become the next big investigations from the likes of the NASD, SEC and Elliot Spitzer.
|
Green Light
|
|
TD Waterhouse
|
SEC charged the company with paying "independent" investment advisors that encouraged them to use Waterhouse services for their clients. Payments ranged from $7,500 to $50,000.
|
9/16/2004
|
While we despise not admitting guilt TFQ gets positive kudos for trying to battle the SEC/NASD over stiffer rules for the brokerage industry.
|
Green Light
|
|
Vanguard
|
Due to Mutual Fund Scandals, Vanguard's funds have seen a large increase in investments. Potential for problem.
|
8/5/2004
|
Green light due to low costs and very little trouble with the law. Great for self directed investors. Not so great for investors looking for full service advice.
|
Green Light
|
|
Vanguard
|
Will not disclose information to the SEC about how much it pays its fund managers.
|
5/1/2004
|
Green light due to low costs and very little trouble with the law. Great for self directed investors. Not so great for investors looking for full service advice.
|
Green Light
|
|
Vanguard
|
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
|
Green light due to low costs and very little trouble with the law. Great for self directed investors. Not so great for investors looking for full service advice.
|
Green Light
|
|
