Deutsche Asset Management and Deutsche Bank Securities reportedly are close to an agreement with the Securities and Exchange Commission, the New York Stock Exchange and the attorney general offices of New York and Illinois in which they would pay an estimated $134 to settle market-timing charges. According to a proxy statement filing, approximately $127 million of that amount would be distributed to Scudder Funds shareholders, under a plan by an independent distribution consultant. Deutsche, without admitting or denying the charges, believes that any settlement “would be generally consistent” with those reached by other advisers and would not have “material adverse financial impact” on DeAM investment advisers to Scudder Funds.
