The SEC fined Western Asset Management Company $100M for failing to prevent its former co-CIO's cherry-picking scheme that ran from 2021 to 2023.

Western Asset Management, a unit of Franklin Resources, will pay $100 million to settle SEC charges tied to a $600 million cherry-picking scheme by former CIO Kenneth Leech. The…

The SEC fined Western Asset Management Company $100M for failing to prevent its former co-CIO's cherry-picking scheme that ran from 2021 to 2023.

Western Asset Management, a Franklin Resources subsidiary, will pay $100M to the SEC over a cherry-picking scheme by its former co-CIO Ken Leech.