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Soft Dollar Reform on the Horizon

Traders Magazine, August 2003

Gregory Bresiger

With the United Kingdom's Financial Services Authority taking a tough new stand against soft-dollar practices, the Securities and Exchange Commission is also expected to clamp down. That's what several participants said at a recent conference on soft dollars and directed brokerage sponsored by the Institute for International Research. Jay Barris, a private securities attorney, said the SEC is trying to rein in soft dollars. He also pointed to a report on rising mutual fund fees and a pending bill in Congress by Richard Baker (R.-La.) - which calls for greater disclosure of fund charges - as examples of regulators and lawmakers moving in the direction of discouraging the use of soft dollars.

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