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Distribution Rules Mutual Funds

Carlton Fields

More Fund Companies Sanctioned for Misusing Fund Assets for Distribution

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The SEC recently settled enforcement actions against William Blair and two Calvert companies for using mutual fund assets to pay distribution-related expenses in violation of Investment Company Act Rule 12b-1 and for certain...more

Ballard Spahr LLP

Investment Management Update

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Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more

Dechert LLP

The New DOL Fiduciary Rule: Impact on Mutual Fund Distribution

Dechert LLP on

The Department of Labor (DOL) has issued the final version of its “investment advice” regulation (Final Rule), which is widely expected to impact significantly the financial services industry, including registered investment...more

Carlton Fields

SEC Seeks Fund Responses to Distribution-In-Guise Guidance

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Since at least March 2016, SEC examiners have reportedly been checking whether mutual fund firms are complying with the SEC staff’s recent guidance on “distribution-inguise.” The guidance suggests that fund boards,...more

K&L Gates LLP

SEC’s Division of Investment Management Offers New Guidance on “Distribution in Guise” Payments

K&L Gates LLP on

On January 6, 2016, the Securities and Exchange Commission’s (“SEC”) Division of Investment Management issued its first written guidance (“New Guidance”) on payments made by mutual funds to intermediaries for distribution and...more

Carlton Fields

SEC Payments "in Guise" Case Resolves Little

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The SEC has long considered whether mutual funds are making distribution payments “in guise”—i.e., payments primarily intended to result in sales of fund shares but disguised as something else. See “Feds Dig for Disguised...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - October 2015

"Wherefore Art Thou Due Process?" Part III - Why it matters: It is time for another installment in our continuing "Wherefore Art Thou Due Process?" coverage into the ongoing constitutional challenges to the SEC's...more

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