The Securities and Exchange Commission and the Financial Industry Regulatory Authority have increased scrutiny of investor fees and high-fee share classes, a shift due partly to the Labor Department's fiduciary rule, as well as a trend toward passive investing, industry participants say. "The regulatory bodies believe that the all-in cost of retirement is too high," said Whitfield Athey, CEO of Delta Data. InvestmentNews (tiered subscription model) (14 Dec.)
Japan's major corporations are more confident about the economy than at any time in the past 11 years, according to the Bank of Japan's Tankan survey. The quarterly reading reached 25 for December, up from 22 in September. Nikkei Asian Review (Japan) (tiered subscription model) (15 Dec.)
The Republican-controlled Federal Communications Commission has voted 3-2 to repeal net neutrality, which prohibits internet service providers from favoring some users over others. Supporters of net neutrality, which was enacted during the Obama administration, said they might challenge the FCC's action in court. Bloomberg (free registration) (14 Dec.)
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