Regulatory Issues
In 2004, Franklin Templeton paid fines to the State of California, the Commonwealth of Massachusetts, and the U.S. Securities and Exchange Commission to settle issues regarding questionable practices including market timing. The plan for distribution of settlement monies of $50 million was completed in September 2006, and all distributions have been completed as of December 2008.
A settlement was also completed with the Ontario Securities Commission concerning Bissett Funds in September 2005.
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“To make life more bearable and pleasant for everybody, choose the issues that are significant enough to fight over, and ignore or use distraction for those you can let slide that day. Picking your battles will eliminate a number of conflicts, and yet will still leave you feeling in control.”
—Lawrence Balter (20th century)