How long did it take the SEC to crack this case... 20 yrs? Talk about efficient. http://biz.yahoo.com/ap/080305/fidelity_sec.html SEC Penalizes Fidelity, Names 13 in Probe Over Improper Gifts From Brokers BOSTON (AP) -- The Securities and Exchange Commission has accused Fidelity Investments and 13 of its current or former employees of improperly receiving gifts totaling more than $1.6 million. The SEC announced civil charges against Boston-based Fidelity on Wednesday in an order that requires the company to pay an $8 million penalty in the influence-peddling case. Among the 13 former and current Fidelity employees named is Peter Lynch, formerly a star manager at Fidelity's Magellan Fund. The order found Fidelity accepted lavish gifts such as travel and entertainment from outside brokers who courted Fidelity's massive trading business. A spokeswoman for Boston-based Fidelity says the issue has now been settled with regulators, with no finding that Fidelity shareholders were harmed by the gifts its employees received. Fidelity neither admits nor denies the SEC's findings.