12b-1 Fees

Chairman Cox Describes SEC Priorities

In his keynote speech at last weeks Practising Law Institutes "SEC Speaks" conference, Chairman Christopher Cox described "two dozen top priorities" for the SEC in the coming year.

Donohue Urges Mutual Fund Industry to Make Market Crisis its Finest Hour

Of all the events that have required the attention of the SECs Division of Investment Management staff during the past year, the “most significant,” according to director Buddy Donohue, has been the recent market turmoil. “The markets of the past several months have experienced what quants like to call numerous multi-sigma events,” said Donohue, speaking […]

12b-1 Bill Referred to Subcommittee

A bill that would effectively require the SEC to adopt a rule improving mutual fund fee and expense disclosures has moved. On October 19, H.R. 3225, the “Mutual Fund Fee Reform Act,” was referred to the House Capital Markets Subcommittee for consideration. The bill would require the SEC to “initiate rulemaking proceedings to revise the […]

What Do Financial Planners Think About 12b-1 Fees?

Most financial planners believe that brokers who are compensated by 12b-1 fees for providing advice to mutual fund investors should be required to register as investment advisers. That was one of the interesting findings coming out of a survey recently conducted by the Financial Planning Association. 67 percent of the nearly 3,000 FPA members who responded […]

Chairman Cox Bats a Thousand During House Oversight Hearing

SEC Chairman Christopher Cox put on a command performance during last weeks House Financial Services Committee oversight hearing. Whatever the topic – from Sarbanes-Oxley to naked shorting, municipal securities to market data – Cox had a ready answer, displaying an impressive grasp of technical minutiae underlying a broad range of issues. At one point, he […]

12b-1 Roundtable Debate Centers on Externalization

Surprisingly, there was quite a bit of agreement among panelists during last weeks SEC Rule 12b-1 roundtable. Almost universally, industry representatives, academics, fund trustees, and investor advocates agreed that: U.S. investors generally want and need guidance when allocating assets, selecting mutual funds, planning for retirement, and redeeming fund shares. “Clearly, investors want advice,” said Barbara […]

SEC Sets 12b-1 Roundtable Agenda; Brokers, Investors Begin to Weigh In

The SEC has announced the agenda and speakers for its upcoming 12b-1 roundtable, scheduled for June 19. The program looks good. To get yourself in the mood, you might want to have a read through the recent report issued by the ICIs 12b-1 Working Group. You also might want to peruse the comments that already are flooding into the […]

Wondering What Cox is Up To? Youre Not Alone . . .

According to an SEC spokesperson, the Commission does not have any official comment or position on Chairman Christopher Coxs letters to Senator Chris Dodd (D-CT) and Representative Barney Frank (D-MA), asking them to “repeal or substantially revise” Section 28(e), the soft dollar safe harbor. But IM Insights collected at least one “unofficial” comment. A bunch […]

SEC to Hold 12b-1 Roundtable

The SEC has announced that it will host a June 19 roundtable discussion on Rule 12b-1. While the specific agenda and list of speakers have not yet been finalized, the discussions are expected to focus on the historical background of the rule and its intended purpose, the evolution of the use of 12b-1 fees, and […]

Mutual Fund Directors Forum Issues 12b-1 Guidance

Rule 12b-1 is in need of a serious overhaul. In the meanwhile, lets do the best with what weve got. Thats the upshot of a new report issued by the Mutual Fund Directors Forum, “Best Practices and Practical Guidance for Directors Under Rule 12b-1.” The 21-page report contains a dim assessment of the current state […]

Audio Interviews

How to Read an SEC Enforcement Action

Stern Tannenbaum law firm partner Aegis Frumento on how to get the most from reading an SEC administrative order or court complaint.

Most Important Supreme Court Decisions for Advisers and Funds

Find out the high court decisions from recent years that are likely to affect how advisers and investment companies work from Debevoise partner Robert Kaplan. 

Top 10 Cybersecurity Steps to Take Now

Sutherland law firm partner Brian Rubin shares the most urgent cybersecurity steps for investment advisers.

Top Marketing Problems … and Solutions

Get solutions for the top marketing challenges that advisers face from ACA Compliance Group managing director Kimberly Daly

Watch Out for 5 Cybersecurity Myths

ACA Aponix Director Pascal Busnel on the most common cybersecurity myths that may cause firms to spend resources where they may not be needed.

The Hidden Costs of Non-Compliance

Proskauer law firm partner and former SEC Division of Investment Management deputy director Robert Plaze on why the costs of non-compliance go way beyond an SEC penalty.

CCO Liability: How to Protect Yourself

Find out from Blue Edge Capital CCO Margaret Fretz what chief compliance officers may be liable for and best practices to make sure you are protected.

Ethics or Compliance: Making the Choice

Find out the difference an ethics, rather than a compliance, perspective makes at an advisory firm from former Ethics and Compliance Officer Association COO Timothy Mazur.