Millennium investors take small hit on late trading settlement

Fri Dec 2, 2005

Investors in Israel Englander's $5.4 billion Millennium Partners face a very small loss based on the firm's civil settlement with the U.S. Securities and Exchange Commission and New York Attorney General Eliot Spitzer. The settlement resolves charges that the firm engaged in improper, after-hours trading of mutual funds.

The resolution, in which Millennium did not admit nor deny the regulators' allegations, requires the firm, its managers and its investors to repay profits earned though the alleged improper mutual fund trading. Millennium Partners will pay $121.4 million,...

ISSN: 2151-1845 / CDC10004H

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates

Popular Searches on HFI