Last month, regulators announced charges against two of FleetBoston's Columbia units for entering into multiple market timing arrangements with select investors, contrary to prospectus language that indicated the firm did not allow such activity. The charges detailed some of the most egregious abuses to the detriment of buy and hold investors and the SEC sought to bar Columbia from managing its own mutual funds. Regulators still have charges pending against BoA broker Theodore Sihpol, who is facing up to a quarter-century behind bars for his role in the schemes. Columbia had place eight executives and portfolio managers on leave, including James Tambone and Louis Tasiopoulos, co-presidents of Columbia Funds Distributor. Christopher Legallet, manager of the Columbia Newport Tiger Fund and Joseph Palombo, Columbia Management Group's COO, are also among those suspended. Additionally, BoA said it will take a first-quarter charge of 16 cents a share due to the settlement.