News Flash- Van Eck May be Charged In Market-Timing Scheme
August 23, 2004
For its alleged part in a market-timing scheme, Van Eck Associates, which advises the Van Eck Funds, and two of its executives may be facing Securities and Exchange Commission charges, the company indicated in a filing. The news is far from surprising, since the firm has a lot of international funds that trade in different time zones. As the latest in a long list of high-profile companies named in the scandal, including Putnam Investments and Janus Capital, the announcement by Van Eck represents another step down in what seems to be a never-ending stairwell of charges. As Morningstar Director of Fund Analysis Kunal Kapoor put it, "It's been more widespread than most folks would have imagined."