Mutual fund market timing: A tale of systemic abuse and executive malfeasance
The mutual fund market timing scandal and continuing investigative probes read like a Greek tragedy. It is beyond comprehension how senior investment management executives would become willing accomplices in fleecing their clients’ assets, impairing their portfolio managers’ investment returns and destroying the reputations of some of the industry’s greatest fiduciary brands. This paper looks at the systemic roots of the scandal and how Canary Capital Partners enlisted the help of Bank of America Securities Executives to market time the bank’s inhouse mutual funds in violation of SEC forward pricing regulations.
Year of publication: |
2004
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Authors: | McCallum, James B. |
Published in: |
Journal of Financial Regulation and Compliance. - Emerald Group Publishing Limited, ISSN 1740-0279, ZDB-ID 2093796-9. - Vol. 12.2004, 2, p. 170-177
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Publisher: |
Emerald Group Publishing Limited |
Subject: | Mutual fund market timing | Hedge funds | Enterprise risk management | Regulatory compliance | Reputational risk | NAV forward pricing |
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