Four industry groups are filing a petition today to end what they say is “backdoor regulation” by the SEC of alleged disclosure violations related to mutual fund 12b-1 fees.

“Over the last year, the SEC has used its enforcement authority, rather than its rulemaking authority, to change longstanding, widespread, and previously uncontroversial business practices in the mutual fund space,” according to the petition the groups are filing to the SEC today. “This is not how the rule of law is supposed to work.”

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