Fund Fees: The Journal's "Fund Track" column said a proposal to limit and shed more light on 12b-1 distribution fees for mutual-funds could have an unintended consequence: making investment advice unaffordable for smaller investors.

That's because advisers who sell the funds will be encouraged to move clients to fee-based accounts, which the paper said is not a practical model for smaller investors.

The Times quoted several veteran fund industry analysts as saying that if the Securities and Exchange Commission's proposals were enacted, "they might help matters and save investors some money — but not very much." Wall Street Journal, New York Times

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