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July 26, 2016 1 min read
You may not remember this, but several months ago the SEC penalized three AIG affiliates $7.5 million for charging $2 million in extra 12b-1 fees as a result of directing clients into these higher fee share classes when less expensive share classes were available (“SEC fines AIG advisors $9.5M,” CNBC, March 15, 2016). If you don’t remember, the SEC is about to remind you, and not necessarily in a very pleasant manner (“SEC Launches Exam Sweep of Advisors’ Share Class Picks,” ThinkAdvisor, July 13, 2016).