The Securities and Exchange Commission’s investor advocate is making enhanced fee disclosure on the $16 trillion held in mutual funds a priority in the next fiscal year, according a biannual Report on Objectives released last week.
Established in 2014 under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Office of the Investor Advocate was created to provide a “voice for investors” and support the SEC’s Investor Advisory Committee, according to the agency’s website. Rick Fleming was appointed the first investor advocate, a position he continues to hold.
In his most recent report, Fleming cited an April 2016 report from Morningstar that said the overall fees on mutual funds and exchange-traded funds continues to trend downward.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
