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Text of DOL Advisory Opinion on Receipt of 12b-1 Fees from Mutual Fund by Trust Company
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] 
July 2, 2003 AO 2003-09A (June 26, 2003). Excerpt: Description of request: Whether a trust company's receipt of 12b-1 and subtransfer fees from mutual funds, the investment advisers of which are affiliates of the trust company, for services in connection with investment by employee benefit plans in the mutual funds, would violate ERISA when the decision to invest in such funds is made by an employee benefit plan fiduciary or participant who is independent of the trust company and its affiliates. MORE >> |
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