What does the below statement mean conceptually: “the broker will apply the commissions paid on the new service towards stratifying the brokerage commitment of the prior full service arrangements”. The use of the word “stratified” is kind of confusing. Does it mean that the previous accounts will have a layer of separation from this new arrangement. If so, why mention it, because isn’t this implied because the new arrangement has no link with the old soft dollar arrangement? cheers
Ethics section. Book 1…
If people new they would!