SEC Quotes
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Today's agreement between Putnam and the SEC provides some preliminary measures to address certain of the issues raised in the actions filed against Putnam. However, these measures represent only a starting point for needed industry reforms in fund governance and oversight and do not address crucial issues involving restitution to fund holders, fines and penalties.
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We absolutely look forward to working with the SEC as a partner in this, ... We need them to come in strongly, aggressively. They understand the problem. They've been our partners. I look forward to working with them.
