The Securities and Exchange Commission is working on considerable 12b-1 reform for 2010 that could go beyond mere disclosure or a more appropriate name for the fees, Chairman Mary Schapiro told the Consumer Federation of America’s 21st Annual Financial Services Conference. One recent suggestion for reforming the fees was to rename them “marketing and fund promotion fees.”

“When it comes to these fees, there is a need for more fundamental change than merely disclosure reforms and a name change,” Schapiro said. “We must critically rethink how 12b-1 fees are used and whether they continue to be appropriate.”

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