October 27, 2010
I have been an insurance advisor and registered repres. for about 15 years. I support the new SEC Rule 12B-2, however, I do NOT support the provision whereby mutual funds can issue new shares. I do believe that this provision will hurt the people(low middle market investors) who we are supposedly trying to protect. There is nothing wrong with me receiving a servicing fee(12b-1) because I provide a valuable service to my clients. As a businessowner, I sure hope that I can continue to provide this service and get paid for my time. I do believe that many of the SEC decisions are a direct response to the ABUSES of the big investment houses. Yes, the did many illegal and unethical dealings, but why take it out on the little guy?
Thank you for your consideration.