SEC plans round table on 12(b)-1 fees
Securities regulators recently said they will hold a June 19 round table to discuss mutual funds’ use of 12(b)-1 fees.
Securities regulators recently said they will hold a June 19 round table to discuss mutual funds’ use of 12(b)-1 fees. Originally intended to cover fund marketing and distribution costs, such fees often are used now as a substitute for a sales load or for servicing, regulators say. SEC Chairman Christopher Cox has said that everything will be on the table during his agency’s review, including a possible effort to repeal the fees.
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