The practice of allowing a mutual fund shareholder to use previous purchases of the fund's shares so as to qualify for reduced commission charges on subsequent purchases.
Backdating is usually illegal; for example, one may use backdating to evade taxes.Continue Reading Although some noteworthy settlements from the subprime-related securities class action litigation wave have started to accumulate (refer for example here), there are still some impressive settlements coming in from the prior scandal.In the third largest options backdating-related securities class action lawsuit settlement, Maxim Integrated Products has agreed to settle the claims against all …Orders or decisions issued on such matters prior to July 1, 2014 are available upon request to the Bureau of Fraud Deterrence.Bryan Smith, Roselle, NJ Order #15-55180-04, April 10, 2017 Respondent, Bryan Smith, knowingly provided false and misleading information to Progressive Insurance Company relating to an automobile insurance policy that he obtained on November 9, 2015. Smith submitted a claim on November 15, 2015 stating that his 2008 Ford had sustained damage on November 14, 2015, when in fact, the damage was pre-existing and had occurred prior to the inception of the policy. Francisco providing false statements on an auto property claim dated May 15, 2015, by indicating that Karina Francisco was not a regular operator of the policy vehicle. Mc Ghee, Montclair, NJ Order #16-54707-35, April 10, 2017 Respondent, Erika N.