Hearing arguments in a closely watched case that could have a major impact on the fee structure in the nation's $10 trillion mutual fund industry, the Supreme Court appeared wary of second-guessing the fees that funds pay to the investment advisers who run them. Business groups urged the Court to stick with a 27-year-old standard that gives substantial deference to the funds, but investor groups said runaway fees have resulted from the overly close relationship between fund boards of directors and investment advisers.
Supreme Court Cautious in Question of Regulating Mutual Fund Fees
The National Law Journal
November 3, 2009