Putnam timeline

Oct. 28 SEC files civil action against Putnam Investment Management LLC and two former Putnam managing directors and portfolio managers, Justin M. Scott and Omid Kamshad. The complaint alleges Scott and Kamshad engaged in excessive short-term trading, called market timing, of Putnam mutual funds in their own personal accounts. Those actions afforded them access to nonpublic information about the funds, including current portfolio holdings, valuations and transactions.

Nov. 10 Putnam assets drop $14 billion, or 5 percent. Assets decline from $277 billion to $263 billion.

Nov. 13 SEC and Putnam reach settlement outlining actions for reform relating to short-term and market-timing trading by its employees. Putnam also agrees to a process for calculating and paying restitution to investors, the amounts of which will be determined at a later date. The SEC order found Putnam did not properly detect and deter such improper trading activity.

Nov. 17 Putnam assets decrease another $7 billion, 2.7 percent, to $256 billion.

Dec. 2 Putnam assets under management have fallen $32 billion, or 12 percent since the Oct. 28 SEC charges. The company reports $245 billion in assets.