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|Subject: Re: UK, NL, AUS ban mutual fund commissions||Date: 6/24/2013 1:50 PM|
|Author: pauleckler||Number: 72503 of 81340|
It seems that the stranglehold big money has over global politics would prevent these laws from ever passing
Sure, but still we have seen major changes in the US brokerage business over the last generation--I suppose from the Reagan era.
*No more fixed commission rates for stock trades.
*End of pricing in 1/8s which guaranteed a 12.5 cent per share bid ask differential. (Now the differential can be as small as $0.0001.) You do know people make a living off of that differential.
*The rise of discount brokers with most trades made online or via 800 numbers. Many fewer broker offices on mainstreet. Many fewer brokers.
An end to loads on mutual funds would not be monumental to most of us. It would affect only some.
Yes, the industry has lots of clout, and they do work to preserve certain aspects, but it looks as if they will not take on "populist" issues. If enough voters want it, it will happen.
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