Franklin Puts Three On 'Administrative Leave' After Internal Probe Into Market Timing

Franklin Resources says it has put two executives and a trader on “administrative leave” over frequent trading in the company’s mutual funds. The California-based company said in a filing with the US Securities and Exchange Commission that it had found some instances of frequent trading of certain funds by a few current or former employees in their own 401(k) retirement accounts. None of the names of the employees or the funds in which the frequent trading occurred were released, though one officer of the company has resigned.