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Securities

Feb. 12, 1999

SEC Sues Broker Over 'Soft Dollars'

SAN FRANCISCO - Firing a legal warning "shot across the bow" of large brokerage houses, the Securities and Exchange Commission made it clear Wednesday securities brokers must keep closer tabs on the rebating of trading commissions to investment advisers in exchange for client referrals - a practice known as "soft dollar" benefits.

By Pamela A. MacLean
Daily Journal Staff Writer
        SAN FRANCISCO - Firing a legal warning "shot across the bow" of large brokerage houses, the Securities and Exchange Commission made it clear Wednesday securities brokers must keep closer tabs on the rebating of trading commissions to investment advisers in exchange for client referrals - a practice ...

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