October 27, 2010
I
I have been a registered representative for over 40 years. I strongly object to SEC permitting mutual funds to issue a new class of shares at net assest value that would allow broker-dealers to set on going sales charge instead of 12b1 fees. Competition is good but allowing this will change will come at the expense of the average investor who needs hand holding and advise from their professional. It takes alot of effort and time to have these reviews and by allowing brokers to set the fee many will give up service to try and get more business. Thank you for your consideration. Don Martyn