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Monthly Archives: July 2015

WSJ Article on Distribution in Guise Issue

SEC Cranks Up Probe Into Fund Firms’ Fees

Inquiry centers on whether money managers are properly disclosing additional costs to investors

By Kirsten Grind

July 16, 2015 6:54 p.m. ET

U.S. securities regulators are examining whether mutual-fund managers are dipping more deeply than allowed into their investors’ money to compensate the brokerages that distribute their products, according to people familiar with the matter.

OppenheimerFunds, Franklin Templeton and J.P. Morgan Chase & Co. are among more than a dozen fund firms that have been reviewed by the Securities and Exchange Commission, which began a broad sweep of how companies sell their products about two years ago, these people said. In recent weeks the SEC’s examination unit referred some of these firms to its enforcement division, these people said. It isn’t known if the SEC will take action against any money managers. Read more