The Securities and Exchange Commission announced Tuesday the settlement of enforcement actions against three former Invesco executives for their role in a market-timing scheme that allowed preferred clients to make excessive trades in exchange for sticky assets. Timothy Miller, former chief investment officer and a portfolio manager for Invesco Funds Group, Thomas Kolbe, the former national sales manager for IFG, and Michael Legoski, a former assistant vice president in its sales department, were ordered to pay $1 apiece in disgorgement and penalties of $150,000, $150,000 and $40,000, respectively. Additionally, the trio was effectively banned from the industry for one year. Miller and Kolbe were further prohibited from serving as an officer or director of an investment company for three years and two years, respectively. Meanwhile, Legoski is prohibited from associating with any broker/dealer for one year. The three consented to the deal without admitting or denying any wrongdoing.