On September 22, 2010, Robert Khuzami, the head of the SEC’s Division of Enforcement, discussed a “Mutual Fund Fee Initiative” during his testimony before the Senate Committee on the Judiciary. When discussing the SEC's newly-created asset management unit (which focuses on mutual funds, private funds and investment advisers), Mr. Khuzami noted that the unit, along with the other SEC divisions, has established a Mutual Fund Fee Initiative to develop analytics for inquiries into the extent to which mutual fund advisers charge retail investors excessive fees. He stated that the analytics are expected to result in examinations and investigations of investment advisers and fund boards concerning duties under the 1940 Act.