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Text of Proposed SEC Reg Revising Rule 12b-1 (Fees Charged by Mutual Funds for Distribution Services) (PDF)
U.S. Securities and Exchange Commission [SEC]Link to more items from this source
[Official Guidance]
July 22, 2010
278 pages, as submitted for publication soon in the Federal Register. Excerpt from an SEC press release: '[T]he proposed changes would replace existing provisions, including Rule 12b-1, that allow mutual funds to use their assets to compensate securities professionals who sell shares of the fund.... The proposal would limit the amount of asset-based sales charges that individual investors pay. In particular, the proposal would restrict these 'ongoing sales charges' to the highest fee charged by the fund for shares that have no ongoing sales charge. For example, if one class of the fund charges a 4 percent front-end sales charge, another class could not charge more than 4 percent in total to investors over time. The fund would keep track of how long investors have been paying ongoing sales charges.

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