FINRA found that Banorte Securities International recommended Class B shares of off-shore mutual funds
to its customers in certain transactions where the customers would have financially benefited from purchasing Class A shares - particularly since the firm had negotiated lower front-end sales charges for off-shore mutual fund
Class A shares with several mutual fund companies.
However, they also noted that in contrast with K Capital's incentive to focus on short-term portfolio performance of its off-shore mutual funds
, the Gyrodyne Board of Directors has an obligation to maximize value for all of Gyrodyne's shareholders when reviewing this and other proposals.
Korean investors now have access to reports on approximately 1,000 domestic beneficiary certificates in addition to more than 110 off-shore mutual funds
authorized for the Korean market.