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SEC Cracks Down On Mutual Fund Sales Practices, But Investors Should Still Read The Fine Print
Investors who were sold high-fee mutual funds may soon be getting some rebates.
The Securities and Exchange Commission said Monday it had settled charges against 79 investment firms for undisclosed conflicts of interest related to sales of mutual funds. The firms agreed to reimburse more than $125 million to clients, almost of all it going to individual “retail” investors.
