Sun Life Financial Inc. confirmed Monday that it is considering selling its MFS Investment Management unit in Boston.
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The Toronto insurance company said in a statement that it had hired the New York investment bank Morgan Stanley and is in talks with possible buyers but that there is no assurance a deal will be made.
MFS came under regulatory scrutiny in 2003 regarding alleged market timing abuses. In February 2004, it announced $350 million worth of settlements with the Securities and Exchange Commission and New York Attorney General Eliot Spitzer in connection with improper mutual fund trading.
