A redemption fee schedule on mutual fund purchases — banned for new sales June 1, 2022.
Under DSC, the dealer was paid an upfront commission by the fund manager and the client paid no upfront fee but faced declining redemption charges (typically 5-6% in year 1, dropping to 0 over 6-7 years). The CSA banned new DSC sales effective June 1, 2022. Existing DSC schedules continue until they expire.
CSA Joint Notice; NI 81-105
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