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Groups File Petition to End SEC Crackdown on 12b-1 Fees

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.

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April 29, 2020