As mentioned just a moment ago, one of the comment sections on the SEC’s website has become a warzone.
The SEC welcomes comments on new regulations from interested parties, and a fair number of these comments fall into that category of commenting on a Dodd-Frank proposed regulation to cap some fees.
The mutual fund managers think the fees they charge investors are justified; they should remain as is. Investors feel ripped off; they want the fees capped.
Stewart A Levin has the best one so far:
I am appalled by the number of so-called professional financial advisor commenters who cannot even correctly spell words in their one or two sentence submissions. The gist of their collective concern is that they won’t be paid indefinitely for their advice if 12b-1 fees are replaced. Hallelujah. It’s about time they left the gravy train.
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