SEC, Finra targeting high-fee share classes, 12b-1 fees and failure to give sales load discounts and waivers to investors.
Long term strategic shifts in fees arrived with the “Clean Share” classes
The regulatory bodies believe that the all-in cost of retirement is too high. Anytime there is an opportunity to assess fines on fees, they're doing it.
The long-term push to bring the cost of retirement fees down has most definitely resulted in the opposite in the short term.