The Financial Services Institute has entered the 12b-1 fee battle representing Mr.Fee.
carries the following statement --
"While we acknowledge that the uses of 12(b)-1 fees have changed since the SEC approved the original rule more than 20 years ago, we will not stand on the sidelines while regulators attack and undermine the ability of financial advisers to receive fair compensation for the ongoing service and advice that clients need and deserve. FSI is fully engaged on this issue, already raising it in meetings with SEC Commissioners and staff last week."
Also, even though the SEC has not yet announced the participants for it's 12b-1 fee round table, FSI president and chief executive Dale Brown said that the group will take part.
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