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Critics Attack SEC For 'Guerrilla Governance' Of Fund Fees
A set of financial services industry advocates petitioned the U.S. Securities and Exchange Commission on Wednesday to end what they call the “backdoor regulation” of fees that mutual fund managers pay investment advisers. The petition from groups like the American Securities Association and the New Civil Liberties Alliance attacks the SEC for using its enforcement…
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SEC's Shuttering of Fund Fees - #NeverNeeded and Never Authorized
Over the past month, the Competitive Enterprise Institute (CEI) and others have pointed to #NeverNeeded regulations that have served no purpose for years and are now hindering our response to the COVID-19 pandemic and to the economic dislocation that enforced social distancing has caused. Now CEI has joined with other industry and policy groups to petition the Securities and…
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SEC's Shuttering of Fund Fees - #NeverNeeded and Never Authorized
Over the past month, the Competitive Enterprise Institute (CEI) and others have pointed to #NeverNeeded regulations that have served no purpose for years and are now hindering our response to the COVID-19 pandemic and to the economic dislocation that enforced social distancing has caused. Now CEI has joined with other industry and policy groups to petition the Securities and…
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Broad Alliance of Financial Services and Public Interest Groups File Petition for Rulemaking Challenging SEC’s Unlawful Regulation by Enforcement
The need for our government to set forth consistent, predictable rules has never been greater, and the Securities and Exchange Commission (SEC) is no exception. 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. …
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Broad Alliance of Financial Services and Public Interest Groups File Petition for Rulemaking Challenging SEC’s Unlawful Regulation by Enforcement
The need for our government to set forth consistent, predictable rules has never been greater, and the Securities and Exchange Commission (SEC) is no exception. 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. …
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Lobbyists Petitioning SEC to End ‘Backdoor Regulation of 12b-1 Fees’
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…
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