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Stock Market & Financial Investment News

News Breaks
January 27, 2014
12:06 EDTLMSEC charges Legg Mason affiliate with defrauding clients
The Securities and Exchange Commission announced sanctions against a California-based investment adviser for concealing investor losses that resulted from a coding error and engaging in cross trading that favored some clients over others. Western Asset Management Company, which is a subsidiary of Legg Mason, agreed to pay more than $21M to settle the SECís charges as well as a related matter announced today by the U.S. Department of Labor. According to an SEC order instituting settled administrative proceedings, Western Asset serves as an investment manager primarily to institutional clients, many of which are ERISA plans. Western Asset breached its fiduciary duty by failing to disclose and promptly correct a coding error that caused the improper allocation of a restricted private investment to the accounts of nearly 100 ERISA clients. In a separate order involving a different set of client accounts, the SEC finds that Western Asset engaged in a type of cross trading that was illegal. Reference Link
News For LM From The Last 14 Days
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November 20, 2014
10:33 EDTLMHigh option volume stocks
High option volume stocks: KBR LM PRGO CHRW DG ZMH LGF ZTS OSIR REGI
November 19, 2014
07:37 EDTLMCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
November 13, 2014
17:00 EDTLMTrian Fund Management gives quarterly update on stakes
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08:02 EDTLMLegg Mason reports preliminary October AUM of $719.5B
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November 12, 2014
07:28 EDTLMBofA/Merrill to hold a conference
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November 10, 2014
07:08 EDTLMCredit Suisse to hold a conference
2014 Boston Financials 1:1 Conference to be held in Boston on November 10-11.

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