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Compliance July 11, 2007
SEC Proposes INVESCO Market Timing Distribution
The Securities and Exchange Commission (SEC) has filed a proposed plan to distribute money in a Fair Fund as part of the agency’s market timing case against INVESCO Funds Group, Inc., AIM Advisors, Inc., and AIM Distributors, Inc.
Reported by Fred Schneyer
The Fair Fund is comprised of $325 million in disgorgement and civil penalties paid by INVESCO Funds Group, Inc., plus accumulated interest. Under the Distribution Plan, eligible investors would receive proportionate shares of the Fair Fund to compensate them for market timing during 2001-2003 in mutual funds for which INVESCO Funds Group, Inc served as the investment adviser.
Those who want to comment on the Distribution Plan may submit their comments, in writing, no later than August 6, 2007: to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, N.E., Washington, DC 20549-1090; by using the Commission’s Internet comment form (http://www.sec.gov/litigation/admin.shtml); or by sending an e- mail to rule-comments@sec.gov.
Comments submitted by e-mail or via the commission’s Web site should include Administrative Proceeding File Number 3-11701 on the subject line. Comments received will be publicly available.
The proposed distribution plan is available here.