SEC to Open Floodgates for Dual Share Classes

The Securities and Exchange Commission finally brought dual share classes to the masses … some of them, anyway. The SEC announced last week that it will allow dozens of issuers to offer ETF share classes of mutual funds and vice versa, so long as the SEC doesn’t order hearings against the applications. The move is the agency’s first announcement on the topic since November, when it approved Dimensional Fund Advisors’s proposal. Despite being largely expected, experts said the decision underscores the ongo ...