Fidelity bars overseas U.S. investors from mutual fund shares

U.S. investors who live overseas are no longer able to purchase or trade any mutual fund shares on Fidelity Investments’ brokerage platform under a change that went into effect Aug. 1. More

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Fidelity bars overseas U.S. investors from mutual fund shares

Posted 8/5/14

BOSTON – U.S. investors who live overseas are no longer able to purchase or trade any mutual fund shares on Fidelity Investments’ brokerage platform under a change that went into effect Aug. 1.

“This change isn’t in response to a specific issue. It’s just a decision we made because the regulatory environment is continually evolving,” Fidelity Investments spokesman Steve Austin told Providence Business News.

“Investors will not be forced to sell their holdings in their account because they live in a foreign country,” said Austin, who is based in Boston. “Dividends will be able to be reinvested.”

The change will only impact a small percentage of Fidelity customers, he said.

“This will only impact a fraction of a percent –less than .3 percent - of accounts held by customers who reside abroad,” said Austin.

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