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July 21, 2004 at 08:00 PM
Kicker: Corrective Actions
MFS Makeover Regimen
Here are some of the actions MFS is taking to enhance trading practices and increase disclosure.
–Ban the use of brokerage commissions to acquire third-party research and market data services.
–Make permanent the ban on the use of brokerage commissions to recognize fund sales.
–Increase commission recapture programs to further cut operating expenses paid by shareholders.
–Expand the use of 2% redemption fees on exchanges and redemptions made within 30 days of purchase on certain funds.
–Expand the use of redemption fees to other MFS equity and bond funds, except money market funds, by imposing a redemption fee on all exchanges and redemptions made within 5 days of purchase.
