Business & Economy · 19 views
Franklin’s Western Asset Management settles SEC case for $100m
Western Asset Management, part of Franklin Templeton, has agreed to pay a $100m civil penalty to settle a US Securities and Exchange Commission (SEC) investigation linked to former bond investor Ken Leech.
Summary
Western Asset Management, part of Franklin Templeton, has agreed to pay a $100m civil penalty to settle a US Securities and Exchange Commission (SEC) investigation linked to former bond investor Ken Leech. US prosecutors charged Leech with criminal fraud in 2024, alleging he ran a "cherry-picking" scheme involving the allocation of trades to selected portfolios at Western Asset.
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