2/15/2004

Janus in settlement talks

The Associated Press

DENVER — Janus Capital Group Inc. is in settlement negotiations with state regulators investigating claims of improper trading in the mutual funds giant, officials said Friday.
In October, the state Division of Securities began investigating market timing trades at the Denver-based company after discussions with the New York Attorney General Eliot Spitzer and the Securities and Exchange Commission, which also are investigating.
State securities commissioner Fred Joseph said details about settlement negotiations cannot yet be released.
He said generally, the division wants Janus to stop unlawful conduct, install corrective measures and provide restitution to investors.
Janus officials did not immediately return a phone call for comment.