Fidelity Investments announced that it plans to reduce electronic equity commissions for customers of registered investment advisers to $8 for trades of up to 3,000 shares.

The change, which is to take effect Aug. 16, will give that price, plus a penny per share for the trade amounts exceeding 3,000, to registered advisers' customers that have at least $1 million at Fidelity. The reduction is from $24.95.

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