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Norwegian FSA orders fund management companies to let lower costs benefit clients

In a letter to fund management companies, the Norwegian FSA pushes for lower costs on mutual funds now that companies must abolish awarding return commissions to distributors.

Photo: Morten Langkilde/pxml Longyearbyen 11.jpg

Fund management companies in Norway must let reduced costs for distribution benefit their mutual fund clients. The Norwegian FSA (Financial Supervisory Authority) has taken steps to ensure that fund management companies' reduced distribution costs do not benefit the companies, but the clients.

In a letter to fund management companies in Norway, the FSA emphasizes that the companies are obliged to safeguard the interests of clients by ensuring that mutual funds are not inflicted with unnecessary costs.

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