Let the Timer Beware
Franklin Templeton cracks down on frequent traders.
Franklin Templeton Investments is getting tough on market-timers, and if they don't behave themselves, the San Mateo, Calif.-based fund family may get even tougher.
Starting November 1, the parent company of the Franklin, Templeton, and Mutual Series funds will stop accepting new money from market-timers, according to recent filings with the Securities and Exchange Commission. Frequent fund traders who already have active accounts at the firm will be asked to register with a Franklin Templeton market-timing desk that will review all their subsequent transactions.