What ceiling does the SEC place on a mutual fund redemption fee?

1. A redemption fee is charged when an investor sells shares within a certain time of buying them. 2. It is paid into fund assets, to defray the costs the redemption imposes on remaining investors. 3. The SEC limits redemption fees to 2%. 4. A back-end sales load is a different charge, typically paid to a broker and not subject to that 2% limit. _Source: US SEC Office of Investor Education and Advocacy, "Mutual Funds and ETFs: A Guide for Investors", section Fee Table: Shareholder Fees for mutual funds_