{"id":4454,"date":"2007-06-14T14:40:59","date_gmt":"2007-06-14T14:40:59","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/putnam_and_its_former_portfoli"},"modified":"2022-03-28T14:08:09","modified_gmt":"2022-03-28T19:08:09","slug":"putnam-and-its-former-portfoli","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/putnam-and-its-former-portfoli\/","title":{"rendered":"Putnam and Its Former Portfolio Managers Settle SEC Charges Over Short-Term Trading of Mutual Fund Shares"},"content":{"rendered":"

\t\t\t\tThe SEC says that former Putnam Investment advisers Omid Kamshad and Justin Scott have settled charges that they improperly traded mutual fund shares. The SEC says that they did so without denying or admitting wrongdoing and are barred from future violations of the 1940 Investment Advisers Act.<\/p>\n

In addition, Scott agreed to disgorging $489,439 plus prejudgment interest of $159,475, while Kamshad will disgorge $57,157 and a $13,709 prejudgment interest. They also agreed to being suspended from the advisory industry for one year and to each paying $400,000 civil penalties. <\/p>\n

The SEC had accused both men of making short-term trades in their Putnam-administered compensation and retirement accounts, potentially causing harm to other shareholders. In this case, the SEC has alleged that by taking part in personal trading while being in charge in other investors’ funds, both men did not appear to have their investors interests in mind.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The SEC says that former Putnam Investment advisers Omid Kamshad and Justin Scott have settled charges that they improperly traded mutual fund shares. The SEC says that they did so without denying or admitting wrongdoing and are barred from future violations of the 1940 Investment Advisers Act. In addition, Scott agreed to disgorging $489,439 plus […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3830],"tags":[],"class_list":["post-4454","post","type-post","status-publish","format-standard","hentry","category-short-term-trading"],"yoast_head":"\nPutnam and Its Former Portfolio Managers Settle SEC Charges Over Short-Term Trading of Mutual Fund Shares — Investor Lawyers Blog — June 14, 2007<\/title>\n<meta name=\"description\" content=\"The SEC says that former Putnam Investment advisers Omid Kamshad and Justin Scott have settled charges that they improperly traded mutual fund shares. 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