MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Tuesday, June 12, 2007 SEC Rolls Out 12b-1 Roundtable Schedule and Participants The SEC has announced the topics and panelists for its 12b-1 fee roundtable discussion on June 19. The first panel, scheduled for 9:30 am, will discuss the 12b-1 in the context of history, what the original purpose was, and why the rule evolved over time. Participants; Moderator Douglas J. Scheidt Chief Counsel, Division of Investment Management U.S. Securities and Exchange Commission Panelists Matthew P. Fink Former President Investment Company Institute Joel H. Goldberg Partner Willkie Farr & Gallagher LLP Richard W. Grant Partner Morgan, Lewis & Bockius LLP Kathryn Bradley McGrath Partner Mayer, Brown, Rowe & Maw LLP The second panel at 11 am will discuss the 12b-1's current role in fund distribution practices and how that role may be different from the original intention. Participants: Moderator Robert E. Plaze Associate Director, Division of Investment Management U.S. Securities and Exchange Commission Panelists: Martin G. Byrne Managing Director Office of General Counsel Merrill Lynch & Co., Inc. Paul G. Haaga, Jr. Vice Chairman Capital Research and Management Company Mellody Hobson President Ariel Capital Management, LLC Chairman Ariel Mutual Funds Board of Trustees John R. Morris Senior Vice President Charles Schwab & Co., Inc. Charles Nelson Senior Vice President Great-West Retirement Services Thomas M. Selman Executive Vice President NASD Robert W. Uek Independent Trustee MFS Funds Panel number three, taking place at 2 pm, will discuss the costs and benefits the fee may have to shareholders. Participants: Moderator Erik R. Sirri Director, Division of Market Regulation U.S. Securities and Exchange Commission Panelists: Brad M. Barber Professor of Finance University of California, Davis John A. Hill Independent Chairman Putnam Funds Jeffrey C. Keil Principal Keil Fiduciary Strategies LLC Joseph R. Russo Chairman and Chief Executive Officer Advantage Financial Group, Inc. Michael J. Sharp General Counsel Citi Global Wealth Management Shannon Zimmerman Investment Analyst The Motley Fool The fourth and perhaps the most important panel will take place at 3:45 pm. The discussion will center on what should happen with 12b-1 fees in the future. Will it be rescinded or should it be left alone? This panel may foreshadow what actions the SEC will eventually take. Closing remarks will take place immediately following this panel. Participants include: Moderator Andrew J. Donohue Director, Division of Investment Management U.S. Securities and Exchange Commission Participants: Mark R. Fetting Senior Executive Vice President Legg Mason, Inc. Avi Nachmany Director of Research, E.V.P. Strategic Insight Don Phillips Managing Director Morningstar, Inc. Richard M. Phillips Partner Kirkpatrick & Lockhart Preston Gates Ellis LLP Barbara Roper Director of Investor Protection Consumer Federation of America Printed from: MFWire.com/story.asp?s=14695 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |