The US government is becoming more restrictive about how money is managed outside its reach, and it is causing highly regulated independent retail brokerage firms to recoil.
According to a recent Wall Street Journal article, Fidelity Investment customers are among a group of asset managers who can no longer buy or trade mutual funds in their brokerage accounts, as a little known rule could start to be enforced.
Global financial regulations, some designed to stop the wonton illegal money transfers to terrorists,...
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