[9319]
October 8, 1997
TO: INVESTMENT ADVISERS COMMITTEE No. 29-97
SEC RULES COMMITTEE No. 99-97
SOFT DOLLARS TASK FORCE
RE: DRAFT ICI PAPER ON BROKERAGE ALLOCATION PRACTICES
______________________________________________________________________________
As we discussed at recent committee meetings, the Institute has been working on a
paper on soft dollars and other brokerage allocation practices. A draft of the paper is attached
for your review. The paper summarizes the applicable regulatory framework and describes
various practices and procedures that advisers to both fund and non-fund clients follow to
ensure that their allocation of brokerage is consistent with the best interests of their clients and
with regulatory standards.
We will be discussing the draft paper at the Investment Advisers Committee meeting on
October 21, 1997 and at the SEC Rules Committee meeting on October 22, 1997. If you are not
planning to attend either of those meetings, please provide your comments on the draft paper
to me by October 21, 1997. My direct number is 202/326-5824, my e-mail address is
amy@ici.org and the fax number is 202/326-5827.
Amy B.R. Lancellotta
Associate Counsel
Attachment (in .pdf format)