Improper Sales of Mutual Fund Class B and C Shares

Remediation Information for Investors

 

This case is closed. You may review eligibility and related claims information for reference only.

 

This page provides information about the remediation plans that are available for certain customers of the securities firms listed below who purchased Class B and, in some cases, Class C shares of mutual funds.  

 

Enforcement actions were brought against these securities firms because they made recommendations to their customers to purchase Class B or, in some cases, Class C mutual fund shares without considering, on a consistent basis, that an equal investment in Class A shares would generally have been more advantageous for certain customers. In particular, the firms did not consider that large investments in Class A shares of mutual funds entitle investors to breakpoint discounts on sales charges, generally beginning at the $50,000 investment level, which are not available for investments in Class B and Class C shares.

 

Customers eligible for remediation:  There is nothing you need to do at this time. You will be contacted by your securities firm. 

 

To learn about a specific remediation plan, including eligibility, exclusion criteria and other options available to investors, please visit the following pages:

 

Last Updated: 8/22/2007