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Mr. Ostrowski denies ever having broken any rules selling fund shares.
But selling fund shares at the time would have meant a large tax bite this April.
Among them, he said, would be imposing a strict daily deadline for placing trades and penalties for selling fund shares shortly after buying them.
So should the tens of thousands of people who make handsome livings recommending and selling fund shares start looking for another line of work?
But because thousands of brokers are selling fund shares, fund companies routinely give the brokers time to relay the orders that came in before the close.
In addition to the gains distributed by a fund, an individual shareholder will also have a gain or loss when selling fund shares.
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You do incur costs when buying and selling funds and shares within your Sipp.
Second, the mutual fund industry uses the star-rating system to encourage performance-chasing (selling funds that performed poorly and buying funds that performed well).
Pax, which is based in Portsmouth, N.H., began selling funds with a focus on social responsibility in 1971.
The hedge fund industry warned that some foreign managers from financial centers in Singapore, Hong Kong and the United States still could have difficulty selling funds in Europe in the future.
Under the proposal, the fees would be above board, and differing brokers selling funds could discount them if they chose to compete that way.
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