Another Fund Settlement
Janus has settled
with the SEC and the various attorneys general. Of the total $225 million settlement, $125 million comes in the form of reduced fees over five years. This latter sanction, similar to several others, addresses the real mutual fund scandal: exorbitant expense ratios.
This leaves Strong, Pilgrim Baxter, Franklin, Federated, and quite a few others still open. The box score on the scandal can be found in the free content of Morningstar's website. Settlements had already exceeded $1 billion in total.