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Improper Trading Cases.
This money will compensate investors for losses from the improper trading and for fees they paid to have their money managed while the improper trading was occurring.
Earlier Monday, prosecutors also sought to link Mr. Rajaratnam to improper trading in Google.
This week the NYSE told five specialists that they would be punished for improper trading.
The disclosures of improper trading could well reinforce such a notion among Schwab clients.
The regulators said they thought the improper trading in variable annuities was instigated by hedge funds.
Alliance has said it will reimburse investors hurt by any improper trading.
Putnam has previously said it would compensate shareholders for any improper trading.
Improper trading by one fund manager dates back to 1998, regulators said.
But one New York investigator said the improper trading appeared to be "very widespread".
Investigators in Germany have gone further, pursuing complaints of improper trading, according to Morningstar.
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