Washington (Aug. 13, 2003) -- NASD has settled four cases involving brokers who violated suitability rules by recommending their customers purchase B share mutual funds instead of A shares.

In each of the four cases, NASD said the purchase of A shares would have eliminated or reduced front-end sales charges through breakpoint discounts; resulted in lower ongoing expenses than those available through B shares; and would have avoided the contingent deferred sales charges associated with B shares.

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