S.E.C. Turns Its Eye to Hidden Fees in Mutual Funds
ByAs regulators have ramped up their scrutiny of private equity practices in recent years, investors have learned a lot about hidden — and dubious — fees they are paying.
Now it’s time for investors in the $16 trillion mutual fund arena to do the same.
On Sept. 21, the Securities and Exchange Commission’s enforcement division filed proceedings against First Eagle Investment Management, an asset-management company overseeing $100 billion — mostly in eight stock, bond and multi-asset funds. The S.E.C. said that from January 2008 through March 2014, First Eagle improperly billed its investors $25 million for payments to brokers marketing the funds’ shares. The commission also accused First Eagle of misleading investors by maintaining in fund documents during that period that it was paying the marketing costs itself…
S.E.C. Turns Its Eye to Hidden Fees in Mutual Funds
