Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

SEC to Recommend Enforcement Action Against MFS

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

Dec. 8, 2003 — Sun Life Financial Inc. (SLF) announced that the Boston office of the Securities and Exchange Commission intends to recommend to the SEC that an enforcement action be taken against Sun Life’s subsidiary, Massachusetts Financial Services Co..

Sun Life stated that the action will allege, in effect, that the disclosure in certain of MFS’ fund prospectuses concerning market timing was false and misleading, and in breach of fiduciary duty.

Sun Life stated that the SEC notice contains no allegations that any MFS employee was knowingly involved in either late trading or inappropriate personal trading in MFS funds.

Sun Life added that MFS is cooperating fully with the SEC.

Based in Boston, MFS is the 11th largest mutual fund company in the U.S. and is 93% owned by Sun Life.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.