Regulator Bans Transaction Charges to Mutual Fund Distributors for Investments Above Minimum Amount

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Full Text of the Document

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....A regulatory authority has rescinded provisions allowing asset management companies to pay transaction charges to mutual fund distributors for investments above a specified minimum amount. Following public and industry consultations, the authority determined that such charges or commissions are no longer permissible, resulting in the deletion of the relevant paragraphs from the governing master circular. This change is effective immediately and aims to protect investor interests and regulate the securities market under the authority's statutory powers.....