"We have been in discussions with Alliance and in consultation with the [
- But the talks are being stalled by Spitzers holdout that Alliance cut the fees it charges investors, a source close to the negotiations told Reuters.
But at least one SEC commissioner finds fault with this reasoning: "To argue that fees are somehow related to market timing is like saying, Well, in any business crime, I can go anywhere," said SEC Commissioner Roel Campos.
An Alliance spokesman declined comment.
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