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New Hampshire Accuses Ing Of Fraud

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Posted 12 June 2006 - 07:42 AM

Excerpt from Plansponsor article (free login):

State securities regulators are charging ING with mishandling state employees' 401(k) plan monies by:

• delaying actions against market timing,
• moving retirement savings from a mutual fund into another garnering higher fees for ING without permission
• making unwritten revenue sharing deals with other mutual fund companies
• failing to retain emails relating to the state's charges.

Dan Otter
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