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SEC Chairman William Donaldson scolded hedge fund lawyers for their roles in recent market-timing scandals and late-trading abuses that have rocked the industry. "Think how much anguish we could have avoided if a few more lawyers had pointed out to their hedge fund clients that late trading of mutual fund shares is illegal, as are duplicitous market-timing arrangements," Donaldson told securities lawyers at the Practising Law Institute's annual SEC Speaks conference.
March 08, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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