• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Experts in Risk
  • Class Actions
  • Criminal
  • Events
  • Features
  • Global
  • People
  • SEC
Browse: Home / 2009 / May / 18 / SEC Begins Distribution of $267 Million from Bear Stearns Fair Fund

SEC Begins Distribution of $267 Million from Bear Stearns Fair Fund

By Securities Docket on May 18, 2009, 10:26 am

The SEC announced on Friday that it has commenced a $267 million Fair Fund distribution to mutual funds and mutual fund shareholders who were harmed by late trading and market timing that occurred through Bear Stearns.  Bear Stearns was charged by the SEC in a 2006 enforcement action.

Friday’s disbursement of more than $216 million went out to approximately 761,000 shareholders who were harmed by the wrongdoing, and to the asset bases of more than 1,000 affected mutual funds. The SEC stated that the distribution would ultimately return more than $267 million to harmed mutual funds and shareholders before the end of 2009.

Dick D’Anna, Director of the SEC’s Office of Collections and Distributions, stated that since the passage of Sarbanes-Oxley, the SEC has returned more than $5 billion in lost funds to harmed investors.

Read the SEC announcement

Posted in SEC | Tagged Fair Funds, Features

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

The inside story behind the collapse of Queensland Nickel

Our Sponsors

Securities-Docket_260x125_14Sec

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2023 Securities Docket.

  • Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
  • Criminal
  • Class Actions
  • Features
  • Global
  • People
  • SEC
  • Events