Series 66: 3.1.5.2 Redemption Fees And Back-End Load Sales

Taken from our Series 66 Online Guide

3.1.5.2 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 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 sales charge. For t

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