NASDR Moves to Eliminate Special Pay-Outs

Published September 13, 1999, 1:00 a.m. EDT

1 Min Read

NASD Regulation has proposed a rule to bar broker/dealers from paying registered representatives more for selling proprietary mutual funds than for selling funds offered by outside fund companies. The practice of paying representatives more for selling house funds can create a conflict of interest between representatives and their clients, NASDR said in issuing the rule proposal Sept. 2. NASDR members have until Oct. 29 to comment on the proposal. In June, NASDR officials said they expected to issue such a proposal to ban extra pay for proprietary sales this summer. (MFMN, 7/12/99)

Processing Content

For reprint and licensing requests for this article, click here.

Money Management Executive

MORE FROM FINANCIAL PLANNING

Regulation and compliance

How SEC's e-delivery rule could cut paperwork, costs for advisors

The SEC opened public comment on Regulation E-Delivery, a proposal that would replace its decades-old guidance-based framework and make electronic delivery the default for required investor disclosures.

By Grace L. Williams
Reporter

8h ago
Professional development

How trash talk could help student-athletes build financial muscle

Pat Brown of Creative Planning and Financial Literacy for Student Athletes is pitting competitive players against each other as part of his new "Athlete Finance League."

By Tobias Salinger
Chief Correspondent

10h ago
Investment strategies

Private assets in defined contribution plans could top $1T by 2030

A Deloitte analysis shows that alternative allocations — to private equity, private credit and other vehicles — in DC plans could grow quickly.

By Zoe Sagalow
Reporter

July 21
Ask an Advisor

Ask an Advisor: What would you tell your younger self?

Six advisors reflect on what they wish they'd known earlier — from speaking up sooner to thinking longer term to learning that the best question beats the best answer.

By Grace L. Williams
Reporter

July 21
Wealth management

Why SEI's 0.10% custody fee stands out from giant custody rivals

SEI may not be the first firm that comes to mind when thinking about the industry's custodians, but the firm has built a substantial client base of financial advisors over more than 30 years.

By Tobias Salinger
Chief Correspondent

July 21
Wealth management

Schwab vacuums up assets, says there's plenty to share with RIAs

Schwab directly or indirectly manages only 2% of the $37 trillion in U.S. wealth that could be in the hands of advisors, according to CEO Rick Wurster. The size of the opportunity means there is no need to compete with the firm's RIA clients.

By Dan Shaw
Reporter

July 21

Load More