Fidelity Investments and other asset managers are telling U.S. clients who live outside the country that they can no longer buy or trade mutual funds in their brokerage accounts. Stephen Austin, a spokesman for the financial-services firm, said the change, effective Aug. 1, was prompted by "today's continually evolving global regulatory environment," but he said it wasn't in response to a specific issue. The change will affect about 50,000 accounts, or less than 0.3% of Fidelity's 20 million accounts, he said. Mutual funds are regulated differently from other investments and could be a target, he said.
via Business News - Yahoo Finance http://ift.tt/1qxusRj
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