Investment bank scandal watch

With a Presidential election in sight, this week’s financial crisis has exacerbated pundits’ unsavory inclination to point fingers. Here is an article that shines a light on the outrageous behavior of investment bankers without rushing to judgement about which political party is more to blame. In fact, the article, written by a hedge fund manager [...]

SEC 12(b)-1 fee waffle watch (Update)

Double, Double, Toil and Trouble: Disclosure Seen as Antidote to Soft-Dollar ‘Witch’s Brew’ At the recent roundtable, Chairman Cox sounded like a shadow of his former reform-minded self. The man who once called 12(b)-1 fees, “Sale’s loads in drag”, now talks in language watered down to United Nations proportions. First he caved in on fund [...]

Will SEC Chief Cox waffle?

The stage is set: Mr. Cox, President of the SEC, has given himself waffle room ahead of the beg roundtable on hidden marketing fees. It is high noon for 12(b)-1 fees June 11, 2007 — WASHINGTON — The SEC plans to decide by the end of the year whether to reform 12(b)-1 fees or eliminate [...]

SEC waffle watch on 12 (b)-1 fee

We’ve been keeping an eye on the fate of SEC Chairman Cox’s crusade to rid the world of (often hidden) 12 (b)-1 fees. To date, his most commendable, and colorful, remark on the issue was that the fees are ”sales loads in drag”. He hasn’t given up; nevertheless, his visit this week to the fund [...]