Lobbyists Accuse SEC of “Backdoor Regulation” on 12b-1 Fees
June 25, 2020
Four industry groups have filed another petition before the SEC accusing the regulator of using “backdoor regulation” of 12b-1 fees.
“This petition is about the Securities and Exchange Commission’s thirty-year effort to effectively outlaw Rule 12b-1 fees, and the concerted campaign of subregulatory sabotage upon which it embarked when it could not get its way through the proper channels,” the petition says.