February 14, 2018

Jim Lundy Quoted in CNBC Article About High-Fee Fund Shares

Chicago partner Jim Lundy discussed the SEC’s recent focus on investment advisors’ use of high-fee mutual funds in the CNBC article “SEC Wants Advisors to Come Clean About High-Fee Fund Shares.”

Jim commented on the increased attention investment advisors are facing regarding potential conflicts of interest from the purchase of high-fee shares of mutual funds for their clients. He noted that “[t]hese concerns are not new at the SEC, but they’ve moved up the priority list,” adding that “[m]any firms have already heeded the warnings … and apparently there are some that haven’t heeded that message yet.” Jim also commented on the agency’s new initiative, which invites firms to self-report potential conflicts.

Read “SEC Wants Advisors to Come Clean About High-Fee Fund Shares.”

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