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Swedish FSA chief hits out against kickbacks again

In a speech delivered to the industry on Wednesday, FSA General Director Erik Thedéen said the higher commissions for selling active funds, which can be up to eight times higher than for index funds, are not justifiable.

Swedish FSA General Director Erik Thedéen says fund commissions lead to conflicts of interest | Photo: 10050 Pontus Lundahl/TT/TT NYHETSBYRÅN / TT NYHETSBYRÅ

Swedish FSA General Director Erik Thedéen has once again hit out at the industry tradition of distributors taking out commissions from mutual fund managers in order to sell the funds on their platforms.

In a speech at an investor summit organized by Swedish daily newspaper Svenska Dagbladet, he spoke of the inherent conflicts of interest that arise from this practice. The speech was subsequently published in its entirety on the FSA's website.

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