Of course the financial planning industry does not want their access to the easy money that these fees sap from Mutual Fund investor profits. I was really sorry to see this thing get thrown to the wayside. I have always stayed away from funds that soak, steal, bamboozle charge this fee so it has never hurt my investment returns however, many of my fellow Americans are beat up annually to the tune of billions of dollars by this rule alone.
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The Securities and Exchange Commission has decided to no longer pursue this year repealing or modifying Rule 12b-1. At the Investment Company Institute’s 4th Annual Mutual Fund Leadership conference March 23 in Palm Desert, California, Andrew “Buddy” Donohue, director of the SEC’s Division of Investment Management, said he believes that it would be “wise…in the current market environment, for us to defer consideration of rule 12b-1 reform for this year.”
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SEC Won’t Pursue 12b-1 Reform
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Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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