MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, August 18, 2004 American Funds Tells Brokers to Toe the Line American Funds recently sent a letter to broker-dealers asking them to confirm that they do not incent brokers for selling its funds, InvestmentNews reported on Wednesday. According to the article, the letter implied that broker-dealers who did not sign a document confirming that they do not use sales incentive programs would be ineligible for future revenue sharing money. The letter also prohibited broker-dealers from using ticket charges to sell funds. Reuters reported in late June that American Funds manager Capital Research was under investigation by the SEC for directed brokerage practices. Printed from: MFWire.com/story.asp?s=7838 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |