SEC Keeps Up Pressure On Soft Dollar Violators
Traders Magazine, March, 2001 by Sanford Wexler
The Securities and Exchange Commission is likely to issue a set of recommendations in the coming months on what constitutes acceptable research in soft dollar transactions, according to industry sources.
The recommendations come in the wake of the agency's extensive 1998 report on soft dollar practices, which cautioned investment advisers to be more thorough in disclosing their arrangements.
However, Lee Pickard, an expert on soft dollar practices for the law firm of Pickard & Djinis in Washington, D.C. estimated that the recommendations could be several months in coming. "It won't be soon," he said.
Revised Guidelines
Late last year, the SEC issued guidelines on soft dollar disclosure arrangements but did not adapt them, deciding instead to postpone...
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