What does SC stand for?

41 million for its failure to provide investors with sales charge discounts in eligible UIT transactions, its failure to ensure that investors received the benefit of Net Asset Value (NAV) transfer programs in applicable mutual fund purchases and for suitability violations related to the sale of Class B and C mutual fund shares.

But funds found they could hide the sales charge by eliminating the upfront load and instead charging a 12b-1 fee.

Known as contractual plans, they expect the service member to make payments for set periods (such as 15 years), with 50 percent of the first year's payments representing a sales charge paid to the selling broker-dealer.

Mitchell Amarillo, Texas A No-load mutual funds are available for purchase without an upfront sales charge, but there is usually a charge when you liquidate or cash in your shares.

OEICs are `single priced', meaning the buying price is the same as the selling price with a sales charge for actually buying the investment.

Credit Suisse has dropped its [pounds sterling]11 sales charge on windfall shares for exchange into its unit-trust PEP.

These include a front load -- charged when an investor makes an initial purchase; back end load -- no charge at the time of purchase, but a redemption fee is charged when the investor sells the shares back (usually in a declining redemption schedule: the redemption fee is highest in the first year the mutual fund is held and declines after that, eventually dropping to zero); no load -- no charge on the purchase or sale, but there is a set-up fee charged by the mutual fund company; low load or C shares -- the sales charge range from 0-2% on the initial purchase, dependent on the mutual fund company.

A reduction to the 12 month Contingent Deferred Sales Charge on Class A share purchases at NAV from 1.