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Fidelity Puts Pay-to-Play Pressure on ETF Issuers
News June 04, 2024 at 12:32 PM
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What You Need To Know
- The firm wants deals that give it 15% of total fund revenue or it may apply charges of up to $100 on investors.
- Fidelity has struck agreements with nine boutique firms and is now in active talks with other asset managers about similar revenue-sharing contracts.
- Opponents say the plan will stifle ETF innovation as it makes it more difficult for upstart firms to operate.
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