What about existing clients who are invested in A and C shares? Would an adviser or intermediary need to use the BIC exemption to continue receiving 12b-1 fees?
faq 2020-01-15

The new rule includes a grandfather provision for preexisting assets, which is effective through April 10, 2017. Current and/or new IRA clients who are invested in A and C shares will be able to continue receiving advice after the effective date without having to comply with the new BIC exemption.

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