Thomson Corp.'s Thomson Financial unit said Monday it has received a subpoena from the U.S. Securities and Exchange Commission for documents related to its Capital Markets Intelligence business.
“Thomson Financial is co-operating fully with the SEC and has been informed that the inquiry should not be construed as an indication by the Commission or its staff that any violation of law has occurred,” the company said in a brief statement.
Thomson Financial is owned by Toronto-based Thomson, which has transformed itself from a newspaper company into an all-electronic purveyor of information to financial, legal, scientific and other professionals.
Thomson Financial's CMI business collects stock ownership data for public company clients seeking a better understanding of their institutional shareholder base.
In 2003, about $33-million (U.S.) of Thomson Financial's CMI revenues were related to the identification of institutional investors for its clients.
Thomson shares were down 76 cents (Canadian) or 1.8 per cent to $42.58 in Toronto.
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