---
schema_version: "secwatch.filing_event.v1"
accession: "0000038777-26-000171"
form_type: "8-K"
ticker: "BEN"
cik: "0000038777"
company_name: "FRANKLIN RESOURCES INC"
filed_at: "2026-06-05T13:00:38+00:00"
generated_at: "2026-06-05T13:03:02.591900+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Franklin Resources' Western Asset pays $100M SEC penalty, ends probes

## Summary
- Western Asset reached SEC settlement: pays $100M civil penalty into Fair Fund, no admission of wrongdoing.
- DOJ notified Western Asset it is no longer a subject of its investigation, taking no further action.
- Settlement resolves all SEC and DOJ investigations into trade allocation allegations involving former co-CIO Ken Leech.
- Western Asset states settlement avoids prolonged litigation, allowing focus on clients.

## SEC filing metadata
- accession: 0000038777-26-000171
- form_type: 8-K
- ticker: BEN
- cik: 0000038777
- company_name: FRANKLIN RESOURCES INC
- filed_at: 2026-06-05T13:00:38+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38777/000003877726000171/0000038777-26-000171-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38777/000003877726000171/ben-20260604.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000038777-26-000171
- JSON: https://secwatch.observer/filing/0000038777-26-000171.json
- Plain text: https://secwatch.observer/filing/0000038777-26-000171.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.