INVESTOR RESTITUTION PAYMENTS



As a result of investigations and enforcement actions initiated by the SEC and several State regulators in 2003-2005, as much as $3.5 billion has been collected in penalties and fines from more than 30 mutual fund complexes for improper market timing and later trading activities.  Under the SEC's Fair Fund program, these monies are in the process of being distributed to millions of individual investors who were harmed by these trading activities.

 

In each enforcement action that has been settled with a mutual fund complex, the SEC has hired an Independent Distribution Consultant to develop a plan to distribute the collected monies (including interest earned) to the affected individual investors.  This process has taken a significant amount of time since these enforcement actions were settled, as a number of legal, operational, and technical issues had to be resolved.

 

CMFI has submiited comments to the SEC on the methodology being used to distribute these restitution payments to investors.  As a public service, CMFI also monitors each of the individual Distribution Plans and prepares a periodic summary on the status of the distribution process for each Plan.

 

Click on the Documents tab to review the latest CMFI summary of the individual Distribution Plans and CMFI's earlier comment letters to the SEC on several of the proposals to distribute these payments..  Click also on the tabs for Comments and Blog Entries to review the latest developments on this restitution process. 

  • CMFI Summary of Investor Distribution Plans
    The SEC is in the process of distributing as much as $3.5 billion in restition payments to individual investors who have been harmed by improper market timing and late trading activities. As a public service, CMFI provides a periodic summary of the status of individual Distribution Plans used to implement this restitution payment process. This summary is current as of August 20, 2015.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Zurich Capital Markets Funds
    On April 15, 2010, the SEC released a plan to distribute $16,809,354.42 in disgorgement and civil penalties to eligible investors of the Zurich Capital Markets Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Morgan Stanley Funds
    On April 9, 2010, the SEC released its final plan to distribute $17 million in disgorgement and civil penalties to eligible investors of the Morgan Stanley Funds who were harmed by market timing and other activities.
  • SEC Orders Approval of Final Distribution Plan for Investors Harmed by Market Timing Activities in the Morgan Stanley Funds
    On April 9, 2010, the SEC approved the final plan to distribute $17 million in disgorgement and civil penalties to eligible investors of the Morgan Stanley Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Evergreen Funds
    On March 19, 2010, the SEC released a plan to distribute $32,653,280.00 in disgorgement and civil penalties to eligible investors of the Evergreen Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the CIHC, Conseco Services, and Conseco Equity Funds
    On February 26, 2010, the SEC released a final plan to distribute $15 million in disgorgement and civil penalties to eligible investors of the CIHC, Conseco Services, and Conseco Equity Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Morgan Stanley Funds
    On February 26, 2010, the SEC released a plan to distribute $17 million in disgorgement and civil penalties to eligible investors of the Morgan Stanley Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Canadian Imperial Holdings and CIBC World Markets Funds
    On February 23, 2010, the SEC released a final plan to distribute $125 million in disgorgement and civil penalties to eligible investors of the Canadian Imperial Holdings and CIBC World Markets funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Prudential Equity Group Funds
    On February 4, 2010, the SEC released a final plan to distribute $270 million in disgorgement and civil penalties to eligible investors of the Prudential Equity Group Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Federated Funds
    On January 28, 2010, the SEC released a final plan to distribute $72 million in disgorgement and civil penalties to eligible investors of the Federated Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Gabelli Funds
    On December 30, 2009, the SEC released a final plan to distribute $16 million in disgorgement and civil penalties to eligible investors of the Gabelli Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the CIHC, Conseco Services, and Conseco Equity Funds
    On December 18, 2009, the SEC released a plan to distribute $15 million in disgorgement and civil penalties to eligible investors of the CIHC, Conseco Services, and Conseco Equity funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Canadian Imperial Holdings and CIBC World Markets Funds
    On December 10, 2009, the SEC released a proposed plan to distribute $125 million in disgorgement and civil penalties to eligible investors of the Canadian Imperial Holdings and CIBC World Markets funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Federated Funds
    On December 4, 2009, the SEC released a proposed plan to distribute $72 million in disgorgement and civil penalties to eligible investors of the Federated Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Prudential Equity Group Funds
    On December 4, 2009, the SEC released a proposed plan to distribute $270 million in disgorgement and civil penalties to eligible investors of the Prudential Equity Group Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Strong Funds
    On September 14, 2009, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Strong Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Gabelli Funds
    On September 11, 2009, the SEC released a proposed plan to distribute $16 million in disgorgement and civil penalties to eligible investors of the Gabelli Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Strong Funds
    On July 30, 2009, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Strong Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Bear, Stearns & Company Funds
    On February 4, 2009, the SEC released a final plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Bear, Stearns & Company Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Ritchie Funds
    On December 11, 2008, the SEC released a final plan to distribute $40 million in disgorgement and civil penalties to eligible investors of the Ritchie Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Bear, Stearns & Company Funds
    On December 8, 2008, the SEC released a proposed plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Bear, Stearns & Company Funds who were harmed by market timing and other activities
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Ritchie Funds
    On July 30, 2008, the SEC released a proposed plan to distribute $40 million in disgorgement and civil penalties to eligible investors of the Ritchie Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the General American Life Insurance Funds
    On July 25, 2008, the SEC released a final plan to distribute $3.4 million in disgorgement and civil penalties to eligible investors of the General American Life Insurance Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the General American Life Insurance Funds
    On May 23, 2008, the SEC released a proposed plan to distribute $3.4 million in disgorgement and civil penalties to eligible investors of the General American Life Insurance Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
    On May 23, 2008, the SEC released a final plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
    On May 23, 2008, the SEC released a final plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Alliance Funds
    On May 15, 2008, the SEC released a final plan to distribute $321 million in disgorgement and civil penalties to eligible investors of the Alliance Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Franklin Templeton Funds
    On May 9, 2008, the SEC released a final plan to distribute $50 million in disgorgement and civil penalties to eligible investors of the Franklin Templeton Funds who were harmed by market timing and other activities.
  • SEC Orders Approval of Final Distribution Plan for Investors Harmed by Market Timing Activities in the Franklin Templeton Funds
    On May 9, 2008, the SEC ordered the approval of a final plan to distribute $50 million in disgorgement and civil penalties to eligible investors of the Franklin Templeton Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Janus Funds
    On April 25, 2008, the SEC released a final plan to distribute $100 million in disgorgement and civil penalties to eligible investors of the Janus Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities by the Alliance Funds
    On March 13, 2008, the SEC released a proposed plan to distribute $321 million in disgorgement and civil penalties to eligible investors of the Alliance Funds who were harmed by market timing and other activities.
  • SEC Response Letter on the Taxation of SEC Distribution Plans
    On March 5, 2008, the SEC Chairman Christopher Cox responded to CMFI’s letter regarding the tax rules for SEC Fair Fund distributions.
  • CMFI Letter on the Taxation of SEC Distribution Plans
    On February 6, 2008, CMFI sent a letter to SEC Chairman Christopher Cox regarding the tax treatment of SEC Fair Fund distribution payments to individual investors.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Banc of America and Nations Funds
    On December 27, 2007, the SEC released a final plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Nations funds and other related fund families who were harmed by market timing and other activities.
  • SEC Modified Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
    On September 25, 2007, the SEC released a modified final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
  • SEC Orders Approval of Modified Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
    On September 25, 2007, the SEC released a revised order approving the modified distribution plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the International Equity Funds
    On August 8, 2007, the SEC released a final plan to distribute $3.19 million in disgorgement and civil penalties to eligible investors of the International Equity Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the RS Funds
    On August 8, 2007, the SEC released a final plan to distribute $25 million in disgorgement and civil penalties to eligible investors of the RS Funds who were harmed by market timing and other activities.
  • SEC Approves Final Distribution Plan for Investors Harmed by Market Timing Activities in the RS Funds
    On August 8, 2007, the SEC approved the final plan to distribute $25 million in disgorgement and civil penalties to eligible investors of the RS Funds who were harmed by market timing and other activities
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Millennium Funds
    On August 3, 2007, the SEC released a final plan to distribute $180 million in disgorgement and civil penalties to eligible investors of the Millennium Investment funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
    On July 24, 2007, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
  • SEC Orders Approval of Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
    On July 24, 2007, the SEC approved the final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Putnam Funds
    On July 20, 2007, the SEC released a final plan to distribute $98 million in disgorgement and civil penalties to eligible investors of the Putnam Funds who were harmed by market timing and other activities.
  • SEC Approves Final Distribution Plan for Investors Harmed by Market Timing Activities in the Putnam Funds
    On July 20, 2007, the SEC ordered the approval of the final plan to distribute $98 million in disgorgement and civil penalties to eligible investors of the Putnam Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Banc of America and Nations Funds
    On July 16, 2007, the SEC released a proposed plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Nations Funds and other related fund families who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
    On July 6, 2007, the SEC released a proposed plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
    On July 6, 2007, the SEC released a proposed plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Franklin Templeton Funds
    On June 6, 2007, the SEC released a proposed plan to distribute $50 million in disgorgement and civil penalties to eligible investors of the Franklin Templeton Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Janus Funds
    On May 31, 2007, the SEC released a proposed plan to distribute $100 million in disgorgement and civil penalties to eligible investors of the Janus Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Millennium Funds
    On May 31, 2007, the SEC released a proposed plan to distribute $180 million in disgorgement and civil penalties to eligible investors of the Millennium Investment funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the RS Funds
    On May 14, 2007, the SEC released a proposed plan to distribute $25 million in disgorgement and civil penalties to eligible investors of the RS Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed By Market Timing Activities in the BancOne/One Group Funds
    On May 9, 2007, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the BancOne/One Group Funds who were harmed by market timing and other activities.
  • SEC Orders Approval of Final Distribution Plan for Investors Harmed By Market Timing Activities in the BancOne/One Group Funds
    On May 9, 2007, the SEC ordered the approval of the final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the BancOne/One Group Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the International Equity Funds
    On April 25, 2007, the SEC released a proposed plan to distribute $3.19 million in disgorgement and civil penalties to eligible investors of the International Equity funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed By Market Timing Activities in the Columbia Funds
    On April 6, 2007, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Columbia Funds who were harmed by market timing and other activities.
  • SEC Order Approving of Final Distribution Plan for Investors Harmed By Market Timing Activities in the Columbia Funds
    On April 6, 2007, the SEC issued an order approving the final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Columbia Funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Putnam Funds
    On March 30, 2007, the SEC released a proposed plan to distribute $98 million in disgorgement and civil penalties to eligible investors of the Putnam Funds who were harmed by market timing and other activities.
  • SEC Final Distribution Plan for Investors Harmed By Market Timing Activities in the Pilgrim Baxter Funds
    On November 22, 2006, the SEC released a final plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Pilgrim Baxter Funds who have been harmed by market timing and other activities.
  • CMFI Comment Letter on SEC Proposed Distribution Plan for Massachusetts Financial Services (MFS) Funds
    On October 16, 2006, CMFI submitted a comment letter on the SEC Proposed Distribution Plan for the Massachusetts Financial Services (MFS) Funds.
  • SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Veras Investment Funds
    On October 4, 2006, the SEC released a final plan to distribute $37,700,488.00 in disgorgement and civil penalties to eligible investors of the Veras Investment funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
    On September 14, 2006, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who have been harmed by market timing and other activities.
  • CMFI Comment Letter on Proposed SEC Distribution Plan for the BancOne/One Group Funds
    On September 6, 2006, CMFI submitted a comment letter to the SEC on its proposed Distribution Plan for BancOne/One Group Funds.
  • CMFI Comment Letter on Proposed SEC Distribution Plan for the Columbia Funds
    On August 17, 2006, CMFI submitted a comment letter to the SEC on its proposed Distribution Plan for the Columbia Funds.
  • SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Veras Investment Funds
    On August 10, 2006, the SEC released a proposed plan to distribute $37,700,488.00 in disgorgement and civil penalties to eligible investors of the Veras Investment funds who were harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed By Market Timing Activities in the BancOne/One Group Funds
    On August 7, 2006, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the BancOne/One Group Funds who have been harmed by market timing and other activities.
  • CMFI Comment Letter on Proposed SEC Distribution Plan for the Pilgrim Baxter Funds
    On July 31, 2006, CMFI submitted a comment letter to the SEC on its proposed Distribution Plan for the Pilgrim Baxter Funds
  • SEC Proposed Distribution Plan for Investors Harmed By Market Timing Activities in the Columbia Funds
    On July 19, 2006, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Columbia Funds who have been harmed by market timing and other activities.
  • SEC Proposed Distribution Plan for Investors Harmed By Market Timing Activities in the Pilgrim Baxter Funds
    On June 30, 2006, the SEC released a proposed plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Pilgrim Baxter Funds who have been harmed by market timing and other activities.

As a result of investigations and enforcement actions initiated by the SEC and several State regulators in 2003-2005, as much as $3.5 billion has been collected in penalties and fines from more than 30 mutual fund complexes for improper market timing and later trading activities.  Under the SEC's Fair Fund program, these monies are in the process of being distributed to millions of individual investors who were harmed by these trading activities.

 

In each enforcement action that has been settled with a mutual fund complex, the SEC has hired an Independent Distribution Consultant to develop a plan to distribute the collected monies (including interest earned) to the affected individual investors.  This process has taken a significant amount of time since these enforcement actions were settled, as a number of legal, operational, and technical issues had to be resolved.

 

CMFI has submiited comments to the SEC on the methodology being used to distribute these restitution payments to investors.  As a public service, CMFI also monitors each of the individual Distribution Plans and prepares a periodic summary on the status of the distribution process for each Plan.

 

Click on the Documents tab to review the latest CMFI summary of the individual Distribution Plans and CMFI's earlier comment letters to the SEC on several of the proposals to distribute these payments..  Click also on the tabs for Comments and Blog Entries to review the latest developments on this restitution process. 

Document Title: 
CMFI Summary of Investor Distribution Plans
Document Desc: 
The SEC is in the process of distributing as much as $3.5 billion in restition payments to individual investors who have been harmed by improper market timing and late trading activities. As a public service, CMFI provides a periodic summary of the status of individual Distribution Plans used to implement this restitution payment process. This summary is current as of August 20, 2015.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Zurich Capital Markets Funds
Document Desc: 
On April 15, 2010, the SEC released a plan to distribute $16,809,354.42 in disgorgement and civil penalties to eligible investors of the Zurich Capital Markets Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Morgan Stanley Funds
Document Desc: 
On April 9, 2010, the SEC released its final plan to distribute $17 million in disgorgement and civil penalties to eligible investors of the Morgan Stanley Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Orders Approval of Final Distribution Plan for Investors Harmed by Market Timing Activities in the Morgan Stanley Funds
Document Desc: 
On April 9, 2010, the SEC approved the final plan to distribute $17 million in disgorgement and civil penalties to eligible investors of the Morgan Stanley Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Evergreen Funds
Document Desc: 
On March 19, 2010, the SEC released a plan to distribute $32,653,280.00 in disgorgement and civil penalties to eligible investors of the Evergreen Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the CIHC, Conseco Services, and Conseco Equity Funds
Document Desc: 
On February 26, 2010, the SEC released a final plan to distribute $15 million in disgorgement and civil penalties to eligible investors of the CIHC, Conseco Services, and Conseco Equity Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Morgan Stanley Funds
Document Desc: 
On February 26, 2010, the SEC released a plan to distribute $17 million in disgorgement and civil penalties to eligible investors of the Morgan Stanley Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Canadian Imperial Holdings and CIBC World Markets Funds
Document Desc: 
On February 23, 2010, the SEC released a final plan to distribute $125 million in disgorgement and civil penalties to eligible investors of the Canadian Imperial Holdings and CIBC World Markets funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Prudential Equity Group Funds
Document Desc: 
On February 4, 2010, the SEC released a final plan to distribute $270 million in disgorgement and civil penalties to eligible investors of the Prudential Equity Group Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Federated Funds
Document Desc: 
On January 28, 2010, the SEC released a final plan to distribute $72 million in disgorgement and civil penalties to eligible investors of the Federated Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Gabelli Funds
Document Desc: 
On December 30, 2009, the SEC released a final plan to distribute $16 million in disgorgement and civil penalties to eligible investors of the Gabelli Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the CIHC, Conseco Services, and Conseco Equity Funds
Document Desc: 
On December 18, 2009, the SEC released a plan to distribute $15 million in disgorgement and civil penalties to eligible investors of the CIHC, Conseco Services, and Conseco Equity funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Canadian Imperial Holdings and CIBC World Markets Funds
Document Desc: 
On December 10, 2009, the SEC released a proposed plan to distribute $125 million in disgorgement and civil penalties to eligible investors of the Canadian Imperial Holdings and CIBC World Markets funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Federated Funds
Document Desc: 
On December 4, 2009, the SEC released a proposed plan to distribute $72 million in disgorgement and civil penalties to eligible investors of the Federated Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Prudential Equity Group Funds
Document Desc: 
On December 4, 2009, the SEC released a proposed plan to distribute $270 million in disgorgement and civil penalties to eligible investors of the Prudential Equity Group Funds who were harmed by market timing and other activities.
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Strong Funds
Document Desc: 
On September 14, 2009, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Strong Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Gabelli Funds
Document Desc: 
On September 11, 2009, the SEC released a proposed plan to distribute $16 million in disgorgement and civil penalties to eligible investors of the Gabelli Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Strong Funds
Document Desc: 
On July 30, 2009, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Strong Funds who were harmed by market timing and other activities.
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Bear, Stearns & Company Funds
Document Desc: 
On February 4, 2009, the SEC released a final plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Bear, Stearns & Company Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Ritchie Funds
Document Desc: 
On December 11, 2008, the SEC released a final plan to distribute $40 million in disgorgement and civil penalties to eligible investors of the Ritchie Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Bear, Stearns & Company Funds
Document Desc: 
On December 8, 2008, the SEC released a proposed plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Bear, Stearns & Company Funds who were harmed by market timing and other activities
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Ritchie Funds
Document Desc: 
On July 30, 2008, the SEC released a proposed plan to distribute $40 million in disgorgement and civil penalties to eligible investors of the Ritchie Funds who were harmed by market timing and other activities.
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the General American Life Insurance Funds
Document Desc: 
On July 25, 2008, the SEC released a final plan to distribute $3.4 million in disgorgement and civil penalties to eligible investors of the General American Life Insurance Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the General American Life Insurance Funds
Document Desc: 
On May 23, 2008, the SEC released a proposed plan to distribute $3.4 million in disgorgement and civil penalties to eligible investors of the General American Life Insurance Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
Document Desc: 
On May 23, 2008, the SEC released a final plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
Document Desc: 
On May 23, 2008, the SEC released a final plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Alliance Funds
Document Desc: 
On May 15, 2008, the SEC released a final plan to distribute $321 million in disgorgement and civil penalties to eligible investors of the Alliance Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Franklin Templeton Funds
Document Desc: 
On May 9, 2008, the SEC released a final plan to distribute $50 million in disgorgement and civil penalties to eligible investors of the Franklin Templeton Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Orders Approval of Final Distribution Plan for Investors Harmed by Market Timing Activities in the Franklin Templeton Funds
Document Desc: 
On May 9, 2008, the SEC ordered the approval of a final plan to distribute $50 million in disgorgement and civil penalties to eligible investors of the Franklin Templeton Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Janus Funds
Document Desc: 
On April 25, 2008, the SEC released a final plan to distribute $100 million in disgorgement and civil penalties to eligible investors of the Janus Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities by the Alliance Funds
Document Desc: 
On March 13, 2008, the SEC released a proposed plan to distribute $321 million in disgorgement and civil penalties to eligible investors of the Alliance Funds who were harmed by market timing and other activities.
Upload Document: 
Document Title: 
SEC Response Letter on the Taxation of SEC Distribution Plans
Document Desc: 
On March 5, 2008, the SEC Chairman Christopher Cox responded to CMFI’s letter regarding the tax rules for SEC Fair Fund distributions.
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Document Title: 
CMFI Letter on the Taxation of SEC Distribution Plans
Document Desc: 
On February 6, 2008, CMFI sent a letter to SEC Chairman Christopher Cox regarding the tax treatment of SEC Fair Fund distribution payments to individual investors.
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Banc of America and Nations Funds
Document Desc: 
On December 27, 2007, the SEC released a final plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Nations funds and other related fund families who were harmed by market timing and other activities.
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Document Title: 
SEC Modified Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
Document Desc: 
On September 25, 2007, the SEC released a modified final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
Document Title: 
SEC Orders Approval of Modified Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
Document Desc: 
On September 25, 2007, the SEC released a revised order approving the modified distribution plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the International Equity Funds
Document Desc: 
On August 8, 2007, the SEC released a final plan to distribute $3.19 million in disgorgement and civil penalties to eligible investors of the International Equity Funds who were harmed by market timing and other activities.
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Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the RS Funds
Document Desc: 
On August 8, 2007, the SEC released a final plan to distribute $25 million in disgorgement and civil penalties to eligible investors of the RS Funds who were harmed by market timing and other activities.
Document Title: 
SEC Approves Final Distribution Plan for Investors Harmed by Market Timing Activities in the RS Funds
Document Desc: 
On August 8, 2007, the SEC approved the final plan to distribute $25 million in disgorgement and civil penalties to eligible investors of the RS Funds who were harmed by market timing and other activities
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Millennium Funds
Document Desc: 
On August 3, 2007, the SEC released a final plan to distribute $180 million in disgorgement and civil penalties to eligible investors of the Millennium Investment funds who were harmed by market timing and other activities.
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Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
Document Desc: 
On July 24, 2007, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
Document Title: 
SEC Orders Approval of Final Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
Document Desc: 
On July 24, 2007, the SEC approved the final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who were harmed by market timing and other activities.
Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Putnam Funds
Document Desc: 
On July 20, 2007, the SEC released a final plan to distribute $98 million in disgorgement and civil penalties to eligible investors of the Putnam Funds who were harmed by market timing and other activities.
Document Title: 
SEC Approves Final Distribution Plan for Investors Harmed by Market Timing Activities in the Putnam Funds
Document Desc: 
On July 20, 2007, the SEC ordered the approval of the final plan to distribute $98 million in disgorgement and civil penalties to eligible investors of the Putnam Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Banc of America and Nations Funds
Document Desc: 
On July 16, 2007, the SEC released a proposed plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Nations Funds and other related fund families who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
Document Desc: 
On July 6, 2007, the SEC released a proposed plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Invesco and AIM Funds
Document Desc: 
On July 6, 2007, the SEC released a proposed plan to distribute $375 million in disgorgement and civil penalties to eligible investors of the Invesco and AIM Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Franklin Templeton Funds
Document Desc: 
On June 6, 2007, the SEC released a proposed plan to distribute $50 million in disgorgement and civil penalties to eligible investors of the Franklin Templeton Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Janus Funds
Document Desc: 
On May 31, 2007, the SEC released a proposed plan to distribute $100 million in disgorgement and civil penalties to eligible investors of the Janus Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Millennium Funds
Document Desc: 
On May 31, 2007, the SEC released a proposed plan to distribute $180 million in disgorgement and civil penalties to eligible investors of the Millennium Investment funds who were harmed by market timing and other activities.
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Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the RS Funds
Document Desc: 
On May 14, 2007, the SEC released a proposed plan to distribute $25 million in disgorgement and civil penalties to eligible investors of the RS Funds who were harmed by market timing and other activities.
Document Title: 
SEC Final Distribution Plan for Investors Harmed By Market Timing Activities in the BancOne/One Group Funds
Document Desc: 
On May 9, 2007, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the BancOne/One Group Funds who were harmed by market timing and other activities.
Document Title: 
SEC Orders Approval of Final Distribution Plan for Investors Harmed By Market Timing Activities in the BancOne/One Group Funds
Document Desc: 
On May 9, 2007, the SEC ordered the approval of the final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the BancOne/One Group Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the International Equity Funds
Document Desc: 
On April 25, 2007, the SEC released a proposed plan to distribute $3.19 million in disgorgement and civil penalties to eligible investors of the International Equity funds who were harmed by market timing and other activities.
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Document Title: 
SEC Final Distribution Plan for Investors Harmed By Market Timing Activities in the Columbia Funds
Document Desc: 
On April 6, 2007, the SEC released a final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Columbia Funds who were harmed by market timing and other activities.
Document Title: 
SEC Order Approving of Final Distribution Plan for Investors Harmed By Market Timing Activities in the Columbia Funds
Document Desc: 
On April 6, 2007, the SEC issued an order approving the final plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Columbia Funds who were harmed by market timing and other activities.
Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Putnam Funds
Document Desc: 
On March 30, 2007, the SEC released a proposed plan to distribute $98 million in disgorgement and civil penalties to eligible investors of the Putnam Funds who were harmed by market timing and other activities.
Document Title: 
SEC Final Distribution Plan for Investors Harmed By Market Timing Activities in the Pilgrim Baxter Funds
Document Desc: 
On November 22, 2006, the SEC released a final plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Pilgrim Baxter Funds who have been harmed by market timing and other activities.
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Document Title: 
CMFI Comment Letter on SEC Proposed Distribution Plan for Massachusetts Financial Services (MFS) Funds
Document Desc: 
On October 16, 2006, CMFI submitted a comment letter on the SEC Proposed Distribution Plan for the Massachusetts Financial Services (MFS) Funds.
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Document Title: 
SEC Final Distribution Plan for Investors Harmed by Market Timing Activities in the Veras Investment Funds
Document Desc: 
On October 4, 2006, the SEC released a final plan to distribute $37,700,488.00 in disgorgement and civil penalties to eligible investors of the Veras Investment funds who were harmed by market timing and other activities.
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Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Massachusetts Financial Services (MFS) Funds
Document Desc: 
On September 14, 2006, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the MFS Funds who have been harmed by market timing and other activities.
Document Title: 
CMFI Comment Letter on Proposed SEC Distribution Plan for the BancOne/One Group Funds
Document Desc: 
On September 6, 2006, CMFI submitted a comment letter to the SEC on its proposed Distribution Plan for BancOne/One Group Funds.
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Document Title: 
CMFI Comment Letter on Proposed SEC Distribution Plan for the Columbia Funds
Document Desc: 
On August 17, 2006, CMFI submitted a comment letter to the SEC on its proposed Distribution Plan for the Columbia Funds.
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Document Title: 
SEC Proposed Distribution Plan for Investors Harmed by Market Timing Activities in the Veras Investment Funds
Document Desc: 
On August 10, 2006, the SEC released a proposed plan to distribute $37,700,488.00 in disgorgement and civil penalties to eligible investors of the Veras Investment funds who were harmed by market timing and other activities.
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Document Title: 
SEC Proposed Distribution Plan for Investors Harmed By Market Timing Activities in the BancOne/One Group Funds
Document Desc: 
On August 7, 2006, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the BancOne/One Group Funds who have been harmed by market timing and other activities.
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Document Title: 
CMFI Comment Letter on Proposed SEC Distribution Plan for the Pilgrim Baxter Funds
Document Desc: 
On July 31, 2006, CMFI submitted a comment letter to the SEC on its proposed Distribution Plan for the Pilgrim Baxter Funds
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Document Title: 
SEC Proposed Distribution Plan for Investors Harmed By Market Timing Activities in the Columbia Funds
Document Desc: 
On July 19, 2006, the SEC released a proposed plan to distribute $140 million in disgorgement and civil penalties to eligible investors of the Columbia Funds who have been harmed by market timing and other activities.
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Document Title: 
SEC Proposed Distribution Plan for Investors Harmed By Market Timing Activities in the Pilgrim Baxter Funds
Document Desc: 
On June 30, 2006, the SEC released a proposed plan to distribute $250 million in disgorgement and civil penalties to eligible investors of the Pilgrim Baxter Funds who have been harmed by market timing and other activities.