SEC Probe Of Murky Fund Fees Sparks Cry For Rule Clarity

Law360, New York (March 11, 2015, 9:19 PM EDT) -- Anticipated enforcement actions coming out of the U.S. Securities and Exchange Commission's two-year probe into whether mutual fund firms are skirting payment rules are worrying fund managers and directors who fear the agency will hold them to standards it hasn't articulated, attorneys say.

The cases are expected to arise from findings the SEC has made in its "distribution in guise" examination initiative. Launched in 2013, the agency's Office of Compliance Inspections and Examinations and enforcement personnel have looked into payments that advisers and funds have made...
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