InvestmentNews reports that FINRA is conducting targeted exams to determine whether brokerage firms are overcharging clients for mutual fund purchases. According to the article, the information request has been sent to 20 firms. At issue is whether brokerage firms are passing along waivers to investors purchasing funds in eligible accounts. While the examinations follow several penalties assessed by FINRA over mutual fund overcharges, the examination request makes clear that FINRA has not determined that the firms have violated any securities laws. The information requested is due by June 10.