Next year, the Securities and Exchange Commission will look into banning some mutual fund fees, originally intended to cover distribution costs, and requiring point-of-sale disclosure on securities to investors who are in the process of evaluating investment. SEC Chairman Mary Schapiro said she has doubts about whether the fees, called 12(b)-1 in the mutual fund industry, are justified. Schapiro said she anticipates “significant push-back” from financial advisers on expanded disclosure because of the inconvenience and expense.more at http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091203/FREE/912039968
Posts Tagged ‘Point Of Sale’
Citi and Visa team up for m-payments pilot
April 5th, 2009 
Before You Invest Citibank and Visa have launched a pilot contactless mobile payments scheme in Singapore with local carrier M1. The three-month initiative will allow holders of a Citi M1 Platinum Visa card to pay for goods and services using their handset at more than 750 locations in the city-state.Around 300 cardholders will be invited to join the scheme, which covers music and book retailers, cafes and restaurants.Users will pay for items by waving their phone handset over a contactless reader at the point of sale. John Denhof, business director of credit payment products for Citibank Singapore, said the scheme will provide “enhanced convenience, accessibility and mobility for our customers”. ”Mobile payment technology, when paired with a credit card account, has the fantastic potential to change the future of consumer behavior in how we make payments and transact daily,” he added. Mobile operator M1, which is supporting the project, has around 1.6 million subscribers in Singapore. Last month, Barclaycard and Orange announced a partnership to develop a range of mobile payment technologies for the UK market.
Posted in Finance Fraud 
Tags: Accessibility And Mobility, Barclaycard, Book Retailers, Business Director, Cafes And Restaurants, Cardholders, Citi Card, Citibank Singapore, Citibank Visa, Consumer Behavior, Great Potential, Million Subscribers, Mobile Operator, Mobile Payment, Mobile Payments, Payment Technology, Phone Handset, Platinum Card, Platinum Visa Card, Point Of Sale 
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