Business, 04.03.2020 04:08 anggar20

A customer places an order to buy mutual fund shares directly from the fund wholesaler, and therefore does not use a broker-dealer included in the fund's selling group. Under FINRA rules, all of the following statements are true EXCEPT:

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Answer from: darkshaders11

Complete question:

A. the wholesaler must be a registered FINRA member

B. the customer must pay the Public Offering Price as described in the prospectus

C. the wholesaler can offer the customer a lower sales charge since no concession will be paid to a selling group member

D. pricing of the fund shares must conform to the requirements of the Investment Company Act of 1940

Under FINRA rules, all of the following statements are true EXCEPT: The wholesaler can offer the customer a lower sales charge since no concession will be paid to a selling group member

Explanation:

In the case that a consumer buys fund sharing directly from either a fund wholesaler rather than an individual in the distribution community, the customer still has to pay the referral bonus price as stated in the brochure.

The customer gets no further discount if he goes to the wholesaler directly. The FINRA must have been a wholesaler of the Company. In accordance with international law of the 1940 Investment Company Act, all fund securities shall be priced — such as mutual fund shares shall be "for-priced" under these laws.

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Answer from: Quest

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A customer places an order to buy mutual fund shares directly from the fund wholesaler, and therefor...