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OppenheimerFunds to Pay $35m to Settle SEC Charges

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The Securities and Exchange Commission has charged investment management company OppenheimerFunds Inc. and its sales and distribution arm with making misleading statements about two of its mutual funds struggling in the midst of the credit crisis in late 2008.

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FX Traders on best behaviour

When global bond investors lost more than $400bn in one week this month, Koon Chow, a Union Bancaire Privee currency strategist, asked sales contacts at banks about the impact on foreign-exchange markets. He didn’t get much help.