SEC Proposes Limits On Funds’ ‘Ongoing Sales Charges’

By Fawn Johnson, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The U.S. Securities and Exchange Commission is set to approve a new proposal Wednesday to limit ongoing sales charges from mutual funds and require them to disclose that certain fees charged to investors are for marketing purposes. The proposal would restrict ongoing sales charges to “the highest fee charged by the fund for shares that have no ongoing sales charge,” according to an SEC summary. “For example, if one Read more […]