Franklin Resources' Wamco to pay $100 million SEC fine over alleged cherry-picking-June 2024-www.financetom.com

Franklin Resources' Wamco to pay $100 million SEC fine over alleged cherry-picking

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Franklin Resources' Wamco to pay $100 million SEC fine over alleged cherry-picking

Jun 5, 2026 6:39 AM

June 5 (Reuters) - Western Asset Management, a unit of

Franklin Resources ( BEN ), will pay a $100 million civil

penalty to resolve U.S. Securities and Exchange Commission

charges related to former co-chief investment officer Kenneth

Leech's alleged cherry-picking scheme, the regulator said on

Friday.

Leech has pleaded not guilty to related criminal charges in

New York. His former employer is commonly known as Wamco.

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