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Testimony of Securities Industry and Financial Markets Association to ERISA Advisory Council re Revenue Sharing and Disclosure (PDF)
Securities Industry and Financial Markets Association [SIFMA]
[Opinion] Sept. 26, 2007
Excerpt: I will begin by providing some background information about revenue sharing arrangements and the basis upon which they are determined. In providing this background information, I will talk about the confusion created by the use of the term 'revenue sharing' and emphasize the need for greater clarity in the terminology used to describe different types of revenue streams. I will then turn to address the subject of guidance that might be issued by the Department of Labor regarding the proper use of any plan assets resulting from a plan's receipt of these payments, and how any such assets should be allocated to participants.
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