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More Problems for Soft Dollars

Traders Magazine, October 2002

John A. Byrne

Staying on the right side of the law in this scandal-plagued environment is not easy in the soft dollar business. If you are paying in soft dollars for research services tarnished by corrupt practices, for instance, is that cause for alarm? That's the question a leading securities industry attorney is hearing more these days. But, the attorney, Richard Marshall, a partner at the firm of Kirkpatrick & Lockhard, does not think there is a problem. "I don't see the SEC looking into this area," he told attendees at the annual conference of the STA. Money managers won't be looking for a refund, he added.

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