American Funds has turned to the SEC in its battle against FINRA over directed brokerage allegations, reports LA Times columnist Tom Petruno. The Los Angeles-based fund firm has been accused by FINRA (then called NASD) in 2005 of directing more than $98 million in brokerage commissions between 2001 and 3003 to 46 securities firms. But unlike other fund shops, American Funds opted to fight the charges rather than settle. Two separate FINRA panels have rejected the company's appeal, and now American Funds has appealed the case to the SEC.  

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