It appears that John Hancock Funds [see profile] CEO Keith Hartstein isn't losing sleep over the SEC's proposal on 12b-1s.

"The one thing I can guarantee every financial adviser is that the final rule will be substantially different than the current proposal out there," Hartstein told InvestmentNews. "A final rule is so out into the future that it's pointless to react."

Hartstein told the pub that the proposal will encounter resistance from fund firms and FAs and it wouldn't be surprising to him if the SEC were to jettison the proposal and take another stab at it. 

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