Plan sponsors do not realize that the brokerage affiliates of consultants are some of the largest soft dollar and commission recapture firms out there.
Soft dollar and commission recapture firms have grown tremendously since the late eighties and have taken a lot of business from Wall Street firms.
FORBES: Pensions and Brokerage: The Brokerage Battlefield Revisited (October 1, 2000)
At best, these firms retain outside legal counsel to assist their salesmen and clients (indirectly) regarding regulatory developments and the advisability of proposed soft dollar and commission recapture arrangements.
FORBES: Soft Dollar Zone: A Sensitive Area (January 1, 1997)
Consultants, who advise clients on asset allocation and manager selection, as well as educate their advisory clients on brokerage matters such as soft dollaring and commission recapture, are not required to be licensed as brokers or registered as investment advisors.
FORBES: Investment Consultants: It's Time to Clearly Define Their Role (June 1, 1995)
Last year, the commission was soft in its treatment of Alstom, a huge French engineering group, following French government pressure.
We welcome the new, enhanced Commission scrutiny of soft dollar practices.
FORBES: Soft Dollar Zone: A Sensitive Area (January 1, 1997)
In my years of experience marketing brokerage services, virtually the only time I have found a single broker-dealer as a commission recapture or soft dollar broker for a fund is what it is an affiliated broker-dealer of the consultant of the fund.
Ms Bonino, a 50-year-old of libertarian views, is not the sole soft-issue champion within the commission.
ECONOMIST: Emma Bonino, Europe��s commissioner for the future
Lord Turner, head of Britain's Pensions Commission, is the latest soft paternalist to recommend such a scheme (see article).
The proposed merger of Irn Bru-maker AG Barr with rival soft drinks firm Britvic is to be investigated by the Competition Commission.
In those rare cases where blatant and widespread soft dollar abuses are brought to the attention of the SEC, the Commission has been reluctant to take action.
FORBES: Soft Dollar Zone: A Sensitive Area (January 1, 1997)
The SEC specifically excluded soft dollar arrangements from the requirement to adjust reported expenses to include amounts paid with commission dollars.
FORBES: New SEC Action: More Brokerage Disclosure to Confuse Mutual Fund Investors (April 1, 1996)
The more commission dollars pensions direct, the less managers have for their own purposes including soft dollaring and marketing.
Of that, 80% was soft white wheat, with Spain the biggest importer of that variety, according to the European Commission.
These soft dollar practices must be properly disclosed by managers to their clients and are reviewed by Securities and Exchange Commission examiners periodically.
FORBES: Soft Dollar Zone: A Sensitive Area (January 1, 1997)
The White House confirms that President Bill Clinton will send a letter to the Federal Election Commission petitioning the agency to outlaw the large contributions from wealthy donors, corporations and labor unions known as soft money.
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