Generally speaking, 529 college savings programs are either direct-sold through state-sponsored investment providers or sold by advisers with a broker/dealer (B/D), who earn a commission on either an A- or a
C-share, says Glenn Sulzer, senior analyst with Wolters Kluwer Legal & Regulatory U.S.
Civitas said the investments were funded from the company's cash resources through the recently issued
C-Share.
The deal includes also a paid subscription share relating to a
C-share, the bank said.
Global Banking News-23 April 2008-HSBC Infrastructure launches
C-share issue(C)2008 ENPublishing - http://www.enpublishing.co.uk
"Some companies have had to close their fixed accounts in certain products, particularly in
C-share contracts, in which there is no surrender charge," she said.
The acquisition also includes a so-called interim share, designated by Euroclear Sweden AB as a 'paid sub-scription share' (Swedish BTA) relating to a
C-share.