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SEC to Examine Distribution Fees and Alt Funds

The SEC will begin an exam sweep of mutual fund distribution fees, including 12b-1, sub-transfer agent, revenue sharing and conference fees, later this year, according to Andrew Bowden, deputy director of the SEC's Office of Compliance Inspections and Examinations.  According to AdvisorOne, Bowden stated that the agency would assess the amount of these payments, the services provided under them and "the interaction of the service agreements."  Bowden also discussed a sweep of alternative mutual funds, scheduled to begin later this year, that will help the SEC better understand the "trends and whether the current regulatory construct is operating the best way that it can."  Specifically, the SEC will be looking at how these funds are handling valuation and liquidity issues.

 

 
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