Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, June 18, 2009

SEC Files Amicus Brief in Mutual Fund Case

The SEC filed an amicus brief in Jones v. Harris Associates in favor of the petitioners.  The case, which will be argued next term before the Supreme Court, addresses the appropriate test for determining the fees investment advisors charge mutual funds and the correct interpretation of section 36(b) of the Investment Company Act.  The Seventh Circuit found in favor of the investment adviser, finding it had not lied to the mutual fund and that "market forces" should determine fees.

http://lawprofessors.typepad.com/securities/2009/06/sec-files-amicus-brief-in-mutual-fund-case.html

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