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Protecting Soft-Dollar Industry

Traders Magazine, May 2004

Gregory Bresiger

Clearer, more extensive disclosure is the best way to resolve the abuse of soft dollars. That was the conclusion of most members of the U.S. Senate Banking Committee at a hearing on soft dollars. "The Senator felt that clearer labeling on the costs of these soft-dollar arrangements would be the best solution and not abolition," according to Andrew Gray, a spokesman for Senator Richard Selby (R-Ala), the chairman of the Senate Banking Committee. He said committee members, both Democrats and Republicans, agreed that disclosure reform would be the best step.

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