Western Asset Management settles US SEC probe over ex-CIO’s cherry-picking scheme
By Samuel Rubenfeld ( June 5, 2026, 19:33 GMT | Insight) -- Western Asset Management, a unit of Franklin Resources, agreed to pay $100 million to resolve a US Securities and Exchange Commission probe into the firm’s failure to detect and prevent an alleged $600 million cherry-picking scheme by its former co-chief investment officer.Western Asset Management, a unit of Franklin Resources, agreed to pay $100 million to resolve a US Securities and Exchange Commission probe into the firm’s failure to detect and prevent an alleged $600 million cherry-picking scheme by its former co-chief investment officer....
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