Municipal borrowers plan to pull at least $21 billion of bonds out of auction rate securities by May 1, Bloomberg reports.
The firm is responding to criticism that ratings firms underrate municipal debt relative to corporate bonds.
A cap on fees for Class C mutual fund shares looks like it will make its way into a rule on 12(b)-1 fees.
Firms with less than $500 million in assets under management have been most affected, said David DeVoe, senior director of mergers and acquisitions for Schwab Institutional in San Francisco.
The index of leading indicators that gauges future business activity fell 0.3% in February, the fifth straight month of decline.
During last year's fourth quarter, 288 new funds were launched and 154 funds were liquidated, according to HFR.
The firm reported first-quarter net income of $1.5 billion, compared with $2.7 billion in the year-ago period.
401(k) participants who have borrowed from their investments rose from 9% in 2005 to 18% in 2007.
W.P. Carey & Co. was accused of selling more than $235 million of an affiliated REIT's shares without a registration statement.
