Securities commissioner raps Morgan Keegan | Arkansas Blog

Securities commissioner raps Morgan Keegan

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Securities Commissioner Heath Abshure announced today he'd reached a consent agreement with Morgan Asset Management and Morgan Keegan over charges that the securities firm's employees had provided inaccurate and misleading information to Arkansas residents who invested in seven Morgan Keegan funds. It's part of a 13-state investigation that produced a $200 million settlement fund for customers and a $10 million civil penalty. About $434,000 of the civil penalty will be for Arkansas. Details of a claims process are not yet finalized.

Here's a news release.

Here's the consent order.

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