Wealth management

Oppenheimer Settles Pricing Charges

Published November 01, 2007, 1:00 a.m. EDT

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Updated October 31, 2007, 5:41 p.m. EDT

1 Min Read

Oppenheimer & Co. Inc. has agreed to settle charges regarding the data it produced about its mutual funds.

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The Financial Industry Regulatory Authority said Tuesday that the New York fund company will pay $1 million to settle charges that it produced "flawed, incomplete, and untimely data" related to breakpoints — the investment amount at which mutual funds with sales charges let investors reduce those charges.

Oppenheimer & Co. settled the matter without admitting or denying the accusations, the regulator said.

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