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The SEC has been debating the merits of the fees since 2007, and has flouted the idea of overhauling them.
We have a lot of things that we are pushing aggressively, and we have three new commissioners and a number of things, Donohue said, and while I would love to address 12b-1, I am not sure we will get to it this year.
What the SEC is prioritizing, Donohue indicated, is mutual fund disclosure and prospectus profiles.