RS Investment

The company has settled with state and federal officials in regards to allegations of improper trading. The settlement is worth $30 million, which is to be used to pay fines and reduced fees. The allegations came about as a result of complaints that funds, generally a certain type called hedge funds, managed by RS Investments were being traded frequently by investors in an irregular fashion. Hedge funds are relatively unregulated forms of investment, and have been under fire by the International Monetary Fund as a possible factor in high oil prices. The RS settlement is just one of many in the mutual fund industry, with officials handing out $3 billion worth of fines. (Oct-7-04) [INTERNATIONAL HERALD TRIBUNE]

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