Banc One Fund Investors Get Compensation

The so-called Fair Fund distribution, resulted from a settled enforcement action in which Banc One Investment Advisors Corporation agreed to pay $10 million in disgorgement and $40 million in civil penalties to settle charges of unlawful market timing from 1999 to 2003.

The entire fund, plus accumulated interest, has been distributed to investors.

Banc One agreed to be acquired by JPMorgan Chase & Co. in 2004.

Market timing is rapid trading of fund shares designed to take advantage of short-term discrepancies between a fund's share price and its underlying holdings. Market timing is considered harmful because it shifts transaction costs to long term investors.