March 4, 2004
I am against the proposed SEC Rules on changes to 12b-1 fees for reps.
This is how I feed my family and pay my bills. I provide a service to my clients and get paid for it. I do not see any problem with this. How do I make a living under this legislation, or does anyone care? I dont have a fancy house and car, but I am a volunteer on many of my off hours. Please do not throw the baby out with the bath water. Prosecute the dishonest, but allow the honest to earn a living.
If the management of various brokerage firms are being lobbied by mutual funds with these fees, that deserves scrutiny.
But, dont hurt the brokers that follow the rules.