SEC Said To Probe Mutual Fund Managers' Fees

The U.S. Securities and Exchange Commission is reportedly examining whether mutual fund managers are dipping more deeply than allowed into their investors’ money to pay brokers who distribute the fund firms’ products. Citing people familiar with the developments, The Wall Street Journal reports that about two years ago, the SEC began a broad sweep of how companies sell their products.

A dozen fund firms on SEC radar

Citing people familiar with the matter, the Journal reports that over a dozen fund firms, including Oppenheimer Funds, Franklin Templeton and JPMorgan, have been reviewed by the SEC. Interestingly,...