REGULATION: SEC pushing 12(b)-1 fee reform this year
SEC Chairman Mary Schapiro said last month that her agency intends to act on the issue of 12(b)-1 fees this year.
SEC Chairman Mary Schapiro said last month that her agency intends to act on the issue of 12(b)-1 fees this year. Her remarks, made at an SEC conference in Washington, reiterated her concern that investors have no idea why they are paying the fees, which are collected by brokers as compensation for selling and servicing mutual funds. SEC staff is working on a recommendation on such fees for commission consideration this year. For a look at Ms. Schapiro’s speech, click here.
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