FT Interactive Data Settles With SEC On Heartland Bond Fund Matter - Update
(RealTimeTraders.com) - Thursday afternoon, Interactive Data Corp. (IDC) said that its operating division, FT Interactive Data has entered into a settlement with the SEC regarding its provision in 2000 of evaluated prices of securities held by two high-yield municipal bond funds managed by Heartland Funds Group.
Under the terms of the settlement with the SEC, the Bedford, Massachusetts-based provider of financial and business information said that FT Interactive Data will pay a civil penalty of $125,000, and is required to adopt some new procedures regarding valuations for high-yield municipal securities and other securities.
The company said that it does not expect the SEC settlement to have a material effect on its results of operations or financial condition.
Interactive Data also said that it has reached agreement in principle to settle claims that have been advanced by shareholders of the two Heartland high-yield municipal bond funds.
IDC is currently trading up $0.15 at $16.73 on a volume of 118,700 shares.
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