The NASD may fine broker-dealers that fail to repay fund investors who paid too much in commissions. Reuters is reporting that the action will could be taken in which brokers failed to recognize breakpoints on the sales of funds.

"We are still considering what disciplinary action will be made," the news service quotes Marc Menchel, executive vice president of NASD as saying. The reported added that the NASD would base the fines on how much harm it determines the broker-dealer to have caused.

Menchel did not identify any firms for which the NASD is considering imposing sanctions.  

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