The National Association of Securities Dealers continues its slow battle against the sale of costly class B shares of mutual funds - one that began two years ago.

Late last month, the regulator fined New York broker McLaughlin, Piven, Vogel Securities and its chairman for inappropriate sales of class B shares and supervisory violations, making it one of several companies fined in the last couple of years for bad B share sales. It also issued an advisory to investors on its Web site warning them about the expenses related to purchasing the shares.

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