Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

CEO of PIMCO Affiliate, Corba, to Settle With SEC

Kenneth Corba, the former chief executive officer of PEA Capital, agreed Monday to pay $200,000 to settle with the Securities and Exchange Commission for allowing hedge fund Canary Capital Partners to market time $4 billion worth of trades in PIMCO funds.

PEA Capital, an affiliate of Pacific Investment Management Co. (PIMCO), is the investment advisor to PIMCO's equity funds.

"The defendant negotiated a secret agreement that permitted a single favored investor to engage in a trading strategy that was denied to ordinary investors," said Randall Lee, regional director of the SEC's Pacific Regional Office.

(c) 2006 Money Management Executive and SourceMedia, Inc. All Rights Reserved.