Three former executives of Amvescap, the Anglo-US fund manager, have been fined by the US Securities and Exchange Commission over their role in the improper mutual fund trading scandal. It leaves the UK-listed firm continuing to hammer out terms of its own settlement with regulators.

The three worked at the Amvescap subsidiary Invesco Funds Group. Timothy Miller, former chief investment officer, Thomas Kolbe, former national sales manager and Michael Legoski, a former assistant vice-president in the sales department, were fined a total of $340,000 (€280,000) and banned from taking similar roles for varying periods of time.