US regulator the Securities and Exchange Commission (SEC) has begun proceedings against a former Schroders municipal bonds manager for alleged insider trading.
American regulator the Securities and Exchange Commission (SEC) has begun proceedings against a former Schroders municipal bonds manager for alleged insider trading. The SEC claims David Baldt, who was head of municipal bonds and managed the Municipal Bond and Short-Term Municipal Bond funds until 2008, allegedly took part in insider trading between September and October of that year. Baldt is accused of tipping off family members to redeem their shares in the Short-Term fund, in which they had a large amount of their life savings invested. The SEC says Schroders suffered increasin...
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