Some fund industry observers are calling out the SEC for not addressing revenue-sharing agreements in its planned overhaul of fund-fee structures.

Today's Wall Street Journal Fund Track includes comments from Barry Barbash, a lawyer at Willkie Farr & Gallagher who was head of the SEC's investment-management division for five years in the 1990s, and Andy Rachleff, CEO of kaChing, a website that matches investors with fund managers.

The SEC, for its part, acknowledges its shortfalls in stemming potential revenue-sharing agreements.

SEC spokesman John Heine was quoted saying that the "footnote should be viewed as a placekeeper in which the commission and the staff acknowledge that 12b-1 issues are tied in with revenue-sharing practices and that the commission will have to address revenue sharing at a later time."  

Edited by: Hung Tran


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