Contact Us

PW Case Review Form
*    Denotes required field.

   * First Name 

   * Last Name 

   * Email 


   * Please describe your case:

What injury have you suffered?

For verification purposes, please answer the below question:

No Yes, I agree to the Parker Waichman LLP disclaimers. Click here to review.

Yes, I would like to receive the Parker Waichman LLP monthly newsletter, InjuryAlert.

please do not fill out the field below.

Janus Reports More Fund Probe Problems

Nov 12, 2003 |

When it comes to Janus Capital Management no news is good news. But that wasn't the case on Wednesday.

In filing its quarterly report with the Securities and Exchange Commission, Janus acknowledged that the improper trading practices it is currently under investigation for seem to be a larger problem than it had initially claimed.

New York State Attorney General Eliot Spitzer and the SEC are currently investigating Janus along with a slew of other firms for market-timing -a sketchy but not explicitly illegal trading maneuver that is essentially a form of arbitrage in illiquid or foreign securities.

Janus said in its SEC filing that the market-timing was more systemic than originally believed. Not only were there a dozen frequent-trading arrangements in its domestic fund business which, at their peak, accounted for 0.25% of total assets under management and resulted in $314 million in outflows when Janus ended the arrangements but there were several improper frequent-trading arrangements among large investors in the firm's offshore mutual fund business as well.

In addition, Janus said it received a request for information from the National Association of Securities Dealers (NASD) inquiring about agreements to distribute mutual fund company shares through broker/dealers.

Related articles
Parker Waichman Accolades And Reviews Best Lawyers Find Us On Avvo