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SEC to examine mutual fund distribution fees starting next week
Next week, the Securities and Exchange Commission will launch a nationwide initiative to review mutual fund distribution fees.Andrew Bowden, deputy director of the SEC's Office of Compliance Examinations and Inspections, today said that the fees have evolved as the financial industry has changed
12(b)-1 ruling eases fund firms', B-Ds' worries - for now
Mutual fund companies breathed a sigh of relief last week when a judge dismissed a case that could have forced funds to pay back years' worth of 12(b)-1 fees, creating more pressure on broker-dealers to register as investment advisers. In Bradley C. Smith v. OppenheimerFunds Distributor Inc., the
12(b)-1 reform bite should be 'modest' for most, KBW says
Concerns about the impact of the proposed 12(b)-1 reform are overblown — at least for the fund industry, according to a report released last week
Bite from 12(b)-1 fee reform should be ‘modest' for most firms: KBW
But these three fund firms would likely take the biggest hit under current proposal
SEC taking steps to prevent another flash crash
Last Friday, the one-year anniversary of the flash crash, SEC Chairman Mary Schapiro told attendees at the Investment Company Institute's annual general-membership meeting that the commission is looking at further regulation of high-frequency traders and mandating standards for exchanges' automated
12(b)-1 reform still on to-do list, says SEC's Schapiro
Says flood of comment letters raised some important points, which commission will consider
Fidelity exec on 12(b)-1 cap: Advisers will still get paid
O'Hanley says expense will ‘pop up' somewhere else; whack-a-mole for the SEC?
SEC: We haven't forgotten about 12(b)-1 fees
Commissioner Walter says the regulator will start work in July on capping the marketing fee. This may not sit well with brokers or mutal fund providers.
New SEC executive's background could bode well for fund industry
The Securities and Exchange Commission's appointment of Eileen Rominger, an 11-year veteran of Goldman Sachs Asset Management, as its director of investment management marks the first time that the SEC has named an industry executive with no legal background to the position
J.P. Morgan launches share class with no 12(b)-1 fees
With reform looming, bank's asset management unit joins others in offering retirement plans so-called R6 option
12(b)-1 proposal makes SEC 'rate maker': ICI
In a comment letter sent today to the Securities and Exchange Commission, the Investment Company Institute said the agency's proposal to cap 12(b)-1 fees puts the SEC in 'the inappropriate role of a rate maker.'
Morningstar: SEC's 12(b)-1 fee proposal ‘will do no good'
Researcher calls for clear labeling of fund expenses rather than cap on marketing and service charge
Franklin Resources sitting pretty, despite 12(b)-1 reform: Analyst
Franklin Resources Inc. is one of the “best-positioned asset managers in this environment” of expected 12(b)-1 fee reform, according to a stock report issued today by FBR Capital Markets.
12(b)-1 reform needs some permanent grandfathering
Among the many provisions in the SEC's plan to overhaul 12(b)-1 fees for mutual funds, perhaps the most contentious is the five-year grandfathering of existing share classes that charge in excess of 25 basis points.
Biggest 12(b)-1 reform losers? These three firms
AllianceBernstein Holding LP, Franklin Resources Inc. and Waddell & Reed Financial Inc. are the three publicly traded mutual fund companies with the most at stake pending the SEC's 12(b)-1 reform.
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Mary Beth Franklin, InvestmentNews
Davis D. Janowski, InvestmentNews