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SEC No-Action Letter Okays Non-Broker-Dealers In Commission Management Plans

Traders Magazine, March 2007

Nina Mehta

The Securities and Exchange Commission, in a letter to Goldman Sachs, clarified that commission dollars could be used to pay for research-related services provided by vendors. The "no-action" letter makes clear that money managers may use their clients' commission dollars to purchase qualified research services from both broker-dealers and vendors.

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