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Topic: 12b-1 Fees

12b-1 Fee and Reverse Churning Allegations Dominate SEC Case against Advisers

March 25, 2016
Allegations involving multiple SEC red flags came together this month when the agency reached a settlement with three AIG Advisor Group subsidiaries. The areas of SEC interest include placement of clients in funds with 12b-1 fees when less expensive funds are available, dually registered advisers involved in reverse churning, and advisers that fail to follow through on examination deficiencies.

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SEC Alleges Conflict of Interest In Adviser Favoring 12b-1 Funds Over Others

January 22, 2016
Thereís nothing wrong with putting clients into funds that charge fees for distribution Ė as long as you first let your clients know of any other funds you manage that do not charge such fees. Itís also probably best to if your firm didnít receive those distribution fees.

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Distribution Fees: New Mutual Fund Guidance Clarifies Board and Adviser Roles

January 8, 2016
Itís the job of a mutual fundís board of directors to police how shares are sold, and itís the job of the fundís adviser to provide the board with sufficient information to make that determination. That is the essence of the guidance update, "Mutual Fund Distribution and Sub-Accounting Fees," issued January 6 by the SECís Division of Investment Management.

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Distribution Fees: Don’t Disguise Them as Something Else

May 8, 2015
The SEC doesnít like it when funds and advisers say they are paying for one kind of service when they actually are paying for another. Payments for sales of mutual fund shares are a case in point.

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SEC Chairman Describes SEC’s Fund-Related Initiatives

May 8, 2009
In her May 4 address before the Mutual Fund Directors Forum conference in Washington, D.C., SEC Chairman Mary Schapiro provided updates on a number of SEC rulemaking initiatives under the Investment Company Act:

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No 12b-1 Reform This Year

April 3, 2009
The SEC has shelved its plan to overhaul Rule 12b-1. At least for this year

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SEC Chairman Lays Out Ambitious Regulatory Agenda

June 20, 2008
Fasten your seatbelts.

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Chairman Cox Describes SEC Priorities

February 11, 2008
In his keynote speech at last weekís Practising Law Instituteís "SEC Speaks" conference, Chairman Christopher Cox described "two dozen top priorities" for the SEC in the coming year.

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