Series 6: 5.1.6.1. Redemption Fees And Back-End Load Sales

Taken from our Series 6 Online Guide

5.1.6.1. Redemption Fees and Back-End Load Sales

Some mutual funds charge a redemption fee. FINRA rules state that the redemption fee plus any back-end load cannot exceed 8.5% of the share price. Recall that a declining back-end load is called a contingent deferred sales charge because the sales charge is deferred until the investor sells and the percentage charged is contingent on when the sale occurs. If a deferred sales charge will be applied, the customer’s trade confirmation must include the following disclosure: “On selling your shares, you may pay a sa

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