March 16, 2021

Trading Compliance: Best Execution, Soft Dollars and Directed Brokerage



Jim Lundy is presenting “Trading Compliance: Best Execution, Soft Dollars and Directed Brokerage,” a webinar co-sponsored by NRS and the Investment Adviser Association (IAA), as part of the IACCP course program.

As a fiduciary, an investment adviser has many obligations to the client including developing, implementing and testing policies, procedures and disclosures to ensure proper trading practices. Jim offers an overview of the trading process and appropriate best practices, and provides “hands-on” compliance solutions for the mission-critical areas of best execution, soft dollars and directed brokerage.

The seminar provides insight into the meaning of “best execution,” and focuses on how strong policies and procedures can help an investment adviser fulfill its fiduciary obligations. Attendees also learn how to identify, mitigate and manage potential conflicts of interest in the trading process.

The seminar also discusses the regulatory issues pertaining to “soft dollar” relationships. Section 28(e) of the Securities Exchange Act of 1934 provides a “safe harbor” for certain research and brokerage services received by an investment adviser in exchange for directing client commissions to a broker-dealer. The seminar will focus in particular on the definitions of eligible “research” and “brokerage services,” as defined by SEC interpretation.

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