MAGNA's Soft dollar program is geared toward SEC registered investment advisors pursuant to ERISA Section 28(e) and is consistent with AIMR guidelines related to the use of soft-dollars. Much like our commission recapture reports, our soft-dollar reports are issued monthly and quantify the value added during the trading process to verify that we provided "best execution". All soft-dollar credits are segregated into a separate customer related liability account, as required by the NASD, and remain on deposit until properly invoiced. The level of detail in our reports includes the amount of dollar credit earned as a result of trading activity, any prior credit balance, current bills paid, and any remaining credit balance.

Soft Dollar Related Articles:
  SEC Close to Final Guidance on Soft-Dollar Rule_latest release
  ICAA STATEMENT RE: SOFT DOLLARS
  Proposed Trade Management Guidelines
  Report of the Working Group on Soft Dollar/Commission Recapture
  SEC Inspection Report on Soft Dollar Practices
  Soft Dollar Days - Glorianne Stromberg
  Spotlight On:
  Soft Dollar Online Learning Module