The Securities and Exchange Commission has unanimously approved new guidelines that will make it more difficult for brokerages to use investor fee money for anything but fund-related expenses. Under the guidelines, updated for the first time in 20 years and which go into effect in six months, money managers will be able to use fee money for research and analysis as well as market, financial and economic data. They would no longer be allowed to use fees for things like of computers, conferences fees, membership and professional dues, office rent or entertainment and travel expenses. SEC Commissioner Roel Campos said that fee money can also be used to pay for outside independent research, provided that brokers who execute the trades are required to pay that firm for the service.