18 Quotes by Stephen Cutler

The reforms Putnam will undertake as part of the commission's order are intended to provide real and substantial protections for mutual fund investors.

Certainly every piece of legislation is going to have some consequences that people didn't anticipate at the outset,

For Xerox, the accounting function was just another revenue source and profit opportunity, ... As a result, investors were misled and betrayed.

looking to see whether managers are adjusting their assumptions with an eye to enhancing the earnings and balance-sheet numbers investors care about. That could be fraud.

The $375 million that Bank of America has agreed to pay and the significant reforms that it has agreed to implement reflect the seriousness of the misconduct in this matter, ... We will continue to investigate that misconduct in an effort to hold all responsible parties accountable.

The $100 million that Janus has agreed to pay and the significant reforms that it has agreed to implement reflect the seriousness with which the staff views market-timing arrangements,

When an exchange specialist unlawfully takes advantage of its privileged position by seizing trading opportunities that it should leave for public customers, it fundamentally undermines the fair and orderly operation of the exchange auction system.

We will continue to investigate these improper arrangements in an effort to hold all responsible parties accountable.

There are about half a dozen situations that we're currently looking at for potential FD violations.