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January 27, 2014

Posted  January 26, 2016

The SEC sanctioned California-based investment adviser Western Asset Management Company, a subsidiary of Legg Mason,  for concealing investor losses that resulted from a coding error and engaging in cross trading that favored some clients over others.  The company agreed to pay more than $21M to settle the SEC’s charges as well as a related matter by the DOJ. SEC

Tagged in: Regulatory Violations, Securities Fraud,