Business Services Industry
SEC Examining Mutual Fund, Annuity Operations of Phoenix Cos.
Knight Ridder/Tribune Business News, March, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Mar. 16--The Phoenix Cos. Inc. said Monday that federal regulators are examining its mutual fund and annuity operations, and that the company has revised three years of financial results because of a new accounting rule.
The Securities and Exchange Commission's Office of Compliance, Inspections and Examinations is conducting "compliance examinations" of mutual fund, variable annuity and mutual fund transfer agent operations, Phoenix said in its annual 10K report Monday.
Several SEC exams of Phoenix started last fall. Several have been completed and closed, and the other is ongoing. No enforcement action has been taken against the company, Hartford-based...
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