Footnote 108: Commenters Just Say No
The letters on the SEC’s proposed soft dollar interpretative release are rolling in.
While there was much "applauding" and "appreciating" of the SEC going on, commenters generally told the SEC that footnote 108 stank.
And, interestingly, the Securities Industry Association argued that, in some cases, law firm bills should be softable as research.
More in next week’s IM Insight.