Title

SEC Proposes New Regulatory Scheme for 12b-1 Mutual Fund Fees
Client Newsflash

Created date

7/26/2010

Citing a need to better protect and inform mutual fund investors, the Securities and Exchange Commission (“SEC”) proposed on July 21, 2010 to replace Rule 12b-1 under the Investment Company Act with new rules governing asset-based distribution fees and related disclosure in fund prospectuses, annual and semi-annual reports to shareholders and investor confirmation statements.