Report: SEC Probing Pimco For Artifically Boosting Returns

The Wall Street Journal is reporting that the Securities and Exchange Commission is investigating Pacific Investment Management Co.

They note that the SEC's probe is related to artificially boosting returns of a fund the Wall Street Journal says is popular, and aimed at small investors.

Wall Street Journal says that they have heard word from a spokesman for the firm, headed up by Bill Gross, who said Pimco "has been cooperating with the SEC in this nonpublic matter, and we take our regulatory obligations and responsibilities to our clients very seriously. We believe our pricing procedures are entirely appropriate and in keeping with industry best practices."

This is a breaking story that we'll continue to update as we get more information.