Groups File Petition to End SEC Crackdown on 12b-1 Fees
April 29, 2020
Four industry and public interest groups filed a petition of rulemaking with the Securities and Exchange Commission Wednesday to end what they see as the agency’s “backdoor regulation” of 12b-1-fees.
“It is time for the SEC to stop its troubling, ongoing trend of backdoor regulation, or regulation by enforcement,” said Dale Brown, president and CEO of the Financial Services Institute, in a statement.