No SEC Charges Likely for President of Franklin Resources
From Dow Jones and Associated Press
The Securities and Exchange Commission no longer intends to recommend a civil action against the president and co-chief executive of Franklin Resources Inc., Gregory Johnson, the company said in a regulatory filing Wednesday.
The SEC has been considering charges against Johnson and Franklin Resources, which operates the Franklin Templeton and Mutual Series fund groups, for allegedly allowing improper short-term trading.
The San Mateo, Calif.- company said it was continuing discussions with the SEC in an effort to resolve issues raised by the investigation.
