Corporate & Financial Weekly Digest, Featuring Articles on FINRA's Review of Waiver and Rebate Systems and ESMA Publishes Draft Guidelines on MiFIR and MiFID II Market Data Obligations

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FINRA Conducts Review of Waiver and Rebate Systems and Procedures with Respect to Mutual Fund ROR Purchases

The Financial Industry Regulatory Authority (FINRA) announced that it is conducting a review of firms’ systems and procedures for providing waivers and rebates to customers through Rights of Reinstatement (ROR) on mutual fund purchases. The ROR generally allows customers to redeem mutual fund shares and reinvest the proceeds in the same fund or another fund in the same fund family with a waiver or rebate of sale fees within a certain period of time.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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