Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Will 2010 Be the Year the SEC Takes on 12b-1? Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 5, 2010

Will 2010 Be the Year the SEC Takes on 12b-1?

Reported by Neil Anderson, Managing Editor

Perhaps the Securities and Exchange Commission (SEC) will try to tackle 12b-1 fee reform in a big way in 2010. On Friday chairman Mary Schapiro revealed that she asked the commission's staff to provide a recommended reform for Schapiro and her fellow commissioners to consider this year.

"The problem is that investors may have no idea these fees are being deducted, what services they are paying for, or who they are ultimately compensating," Schapiro said at "SEC Speaks" in Washington, D.C. "That's why I believe we need to critically rethink how 12b-1 fees are used and whether they continue to be appropriate."

As for money market mutual funds, fundsters should not breathe a sigh of relief yet even though the SEC has already adopted some reforms. The floating net asset value (NAV) proposal, hated by some in the industry, is still on the table for Schapiro.

"Our money market fund reforms are not yet done," Schapiro added. "We will be considering more measures to address money market fund risk, especially the risk of a run on money market funds. In particular, I have directed our staff to examine the merits of a floating, mark-to-market NAV for money market funds, rather than the stable $1 price." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use