SEC to consider mutual fund fees, disclosure on securities

Next year, the Securities and Exchange Commission will look into banning some mutual fund fees, originally intended to cover distribution costs, and requiring point-of-sale disclosure on securities to investors who are in the process of evaluating investment. SEC Chairman Mary Schapiro said she has doubts about whether the fees, called 12(b)-1 in the mutual fund industry, are justified. Schapiro said she anticipates "significant push-back" from financial advisers on expanded disclosure because of the inconvenience and expense.

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