NASD announced Tuesday that it has fined two Fidelity Investments broker/dealers—Fidelity Investments Institutional Services Co. and Fidelity Distributors Corp.—$400,000 for distributing misleading sales performance information about investment plans sold primarily to military personnel. The money will go to the NASD investor education program for the benefit of the military community.

The investment plans concerned are the Fidelity Destiny I and II systematic investment plans. They require investors to make a fixed number of monthly payments over a 10- to 15-year period, which Congress prohibited last fall.

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