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|Subject: Re: UK, NL, AUS ban mutual fund commissions||Date: 6/24/2013 10:36 AM|
|Author: PosFCF||Number: 72502 of 77093|
New rules in the U.K., the Netherlands and Australia show one drastic way to tackle the problem. Starting this coming week, commissions on popular investments like mutual funds will be banned .....
The cynical side of me thinks this is promulgated and supported by the mutual fund industry itself because most of the advisory community has already moved to a fee-based (rather than commission-based) system of how to charge the client. By banning the fees, the mutual fund's performance numbers will look better, perhaps.
It seems that the stranglehold big money has over global politics would prevent these laws from ever passing if the industry wasn't behind them.
But then,this cynical old redneck could be wrong about this take on the news, wouldn't be the first time & not likely to be the last.
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