SEC: Agency mulls killing 12(b)-1 fees
SEC Chairman Mary Schapiro said early last month that her agency plans to consider whether mutual fund 12(b)-1 fees should be nixed, according to a recent InvestmentNews report.
SEC Chairman Mary Schapiro said early last month that her agency plans to consider whether mutual fund 12(b)-1 fees should be nixed, according to a recent InvestmentNews report. At the Consumer Federation of America’s Annual Financial Services Conference in Washington, Ms. Schapiro questioned whether such fees “result in investors overpaying for services or paying for distribution services that they may not even know they are supposed to be getting.” The SEC staff is preparing a recommendation for the commission to consider this year. For a look at Ms. Schapiro’s recent comments , visit sec.gov/news/speech/2009/spch120309mls.htm.
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