Franklin Resources' Wamco to pay $100 million SEC fine over alleged cherry-picking

Franklin Resources, Inc.

Franklin Resources, Inc.

BEN

0.00

June 5 (Reuters) - Western Asset Management, a unit of Franklin Resources BEN.N, will pay a $100 million civil penalty to resolve U.S. Securities and Exchange Commission charges related to former co-chief investment officer Kenneth Leech's alleged cherry-picking scheme, the regulator said on Friday.

Leech has pleaded not guilty to related criminal charges in New York. His former employer is commonly known as Wamco.


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