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Mr. Spitzer released part of a portfolio manager's correspondence to the president of Columbia Funds Distributor.
Columbia Funds Distributor secretly entered into arrangements with at least nine companies and individual investors, according to the S.E.C.
The two acquisitions will make CI the second-biggest mutual funds distributor in Canada after the Investors Group, based in Winnipeg.
Examples include the auto parts maker Magna International, which is controlled by its founder, Frank Stronach; the Bombardier family's aerospace group; and the Power Corporation, through which the Desmarais family of Montreal controls Canada's biggest mutual funds distributor and one of its biggest life insurance groups.
The regulators, the New York attorney general and the Securities and Exchange Commission, accused the two units, Fleet's Columbia Management Advisors Inc. and Columbia Funds Distributor Inc., of allowing short-term trading by large investors at the expense of more traditional, long-term investors.
Similar(55)
Mr. Stern, 30, is an advertising compliance specialist at Funds Distributors, a company in Boston that helps sell, market and distribute mutual funds.
Hartford Funds are underwritten and distributed by Hartford Funds Distributors, LLC.
For example, the Toronto-Dominion Bank owns the TD Waterhouse discount brokerage firm, while Sun Life Financial of Toronto controls MFS Investment Management of Boston, a large mutual fund distributor.
A government filing for the Dreyfus Premier Technology Fund, which was recently selected by Boeing's 401(k) plan as its only technology fund offering, noted that the fund distributor may pay finders' fees to agents who sell its funds to investors, including those in employee benefit plans.
Open-end funds are those you can purchase through a fund distributor, a fund supermarket or broker.
A financial planner and fund distributor, Tecis appeals to the growing appetite in middle-class Germans for fund investing.
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