Wellington and Janus Eyed in Possible Insider Trading Probes

Before you go, we thought you'd like these...
Before you go close icon

Wellington and Janus Eyed in Possible Insider Trading ProbesWellington Management has received a document request from federal regulators looking into possible insider trading on the part of money managers with the firm, Bloomberg News reported, citing a person familiar with the process. Janus Capital Group (JNS) also received such a request.

Wellington executives, speaking on an internal conference call, said the company is reviewing records, and that it didn't conduct illegal trades, the wire service said, citing one person familiar with the process whom it didn't identify. A spokeswoman for Boston-based Wellington declined to comment to Bloomberg News.

Janus said in a Securities and Exchange Commission filing Tuesday that it also received a request related to an insider trading probe, and that it will cooperate with the investigation.

Wellington, which was founded in 1928, manages about $598 billion in assets, including mutual funds for investment firms such as Vanguard Group, according to Bloomberg.

Janus shares fell 2.7% to $10.66 in New York Stock Exchange in late afternoon trading Tuesday. Wellington is closely held.

Read Full Story

Markets

S&P 500 2,367.04 -2.71 -0.11%
DJIA 20,834.47 -2.97 -0.01%
NASDAQ 5,842.73 -19.17 -0.33%
DAX 11,849.73 27.06 0.23%
NIKKEI 225 19,118.99 11.52 0.06%
HANG SENG 23,740.73 -184.32 -0.77%
USD (per EUR) 1.06 0.00 0.39%
USD (per CHF) 1.00 -0.01 -0.80%
JPY (per USD) 111.89 -0.85 -0.75%
GBP (per USD) 1.24 0.00 0.03%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners