Quick Takes: Settlement Over Utah's College Savings Plan, Seattle U. Property Dispute

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The U.S. Securities and Exchange Commission announced on Thursday that it had settled an investigation into "untrue statements and omissions" by Utah's college savings program but filed separate charges accusing its former director of directing more than $500,000 of funds from the plan's participants into secret accounts and transferring $85,000 of those funds to his personal bank accounts. The case prompted the commission to release its first-ever guidance for investors on so-called 529 plans, which allow parents and students to prepay or save money for college in tax-advantaged ways.
Seattle University is at odds with a group of Ethiopian small business owners who had agreed to leave a university-owned property but are now refusing to do so, according to The Seattle Times. "Seattle University has been patient and generous with the tenants, but at this point we feel we have no choice but to take legal action," a lawyer for the university, Catherine Walker, said about eviction proceedings the institutions has begun.