Securities regulators and members of Congress have found a new investor-betrayal issue to wrangle over: mutual fund "breakpoints."

Citing a discovery during a routine exam in Philadelphia of breakpoint abuses among brokers who sold mutual funds, the National Association of Securities Dealers (NASD) last month notified member firms as well as the Investment Company Institute (ICI) (see MFMN 1/13/03). Shortly thereafter, NASD floated an advisory to investors to be on the alert for breakpoint abuses.

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