Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Modification of earlier SEC order imposing annual third party compliance review on the Respondent to limit the review to only 2005 and 2007
Monetary Penalties:
Disgorgement
(Penalty was noted in document, but no amount was listed)
Civil Penalty
(Penalty was noted in document, but no amount was listed)
Related Documents:
IA-2271
02-Aug-2004
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940 and Sections 9(b) and 9(f) of the Investment Company Act of 1940, Making Findings and Imposing Remedial Sanctions and Issuing a Cease-and-Desist Order
On August 2, 2004, the SEC instituted settled administrative and cease-and-desist proceedings against Franklin Advisers, Inc. According to the SEC: "Franklin acted contrary to public disclosures and in violation of fiduciary duties when it allowed certain parties to market time funds it advised."
34-56603
03-Oct-2007
Administrative Proceeding
Order Extending Time to Enter an Order Approving or Disapproving Distribution Plan
The Commission ordered that: " for good cause shown, the time for entering an order approving or disapproving the
proposed distribution plan is extended through November 30, 2007."
34-56829
20-Nov-2007
Administrative Proceeding
Order Extending Time to Enter an Order Approving or Disapproving Distribution Plan
The SEC stated: "IT IS ORDERED that: Pursuant to Rule 1104 of the Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1104, for good cause shown, the time for entering an order approving or disapproving the proposed distribution plan is extended through December 28, 2007"
34-59000
21-Nov-2008
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission ordered that: "the Commission staff shall transfer $5,753,326.58 of
the Fair Fund and the Fund Administrator shall distribute such monies to investors, as provided
for in the Plan."
34-62016
30-Apr-2010
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On April 30, 2010, the SEC ordered that "the Fund Administrator shall disburse the amount stated in the validated payment file, $11,402,009.02, as provided for in the Plan."
34-65390
23-Sep-2011
Administrative Proceeding
Order Discharging Plan Administrator and Terminating Fair Fund
On September 23, 2011, the SEC ordered "the $54,615.08 remaining in the Fair Fund, including a tax return that was returned to the fund, shall be transferred to the U.S. Treasury". The SEC also ordered the termination of the Fair Fund, the discharge of Boston Financial Data Services as the Fund Administrator, and that any funds returned in the future to the Fair Fund shall be transferred to the U.S. Treasury.