BO01 - Compensation for Brokers and Broker-Dealers

Date/Time: 
10/20/2017 - 11:00am to 10/20/2017 - 12:00pm
Room: 
Rocky Mountain CD
Date/Time: 
10/21/2017 - 8:30am to 10/21/2017 - 9:30am
Room: 
Divide

This session is an overall look at compensation from the standpoint of the institution and how it may, in certain instances, raise issues of conflict of interest with its customers.  We will talk about the North American Securities Administrators Association’s (NASAA’s) model fee disclosure schedule and related accessibility guidelines to help investors better understand and compare various broker-dealer service and maintenance-related fees. A case study on UBS and the Puerto Rico Closed-End Bond Funds – underwriter, advisor, broker, market-maker (or not), etc., as well as affiliate compensation and other disclosures in customer accounts, some that shockingly talk about disincentives to reduce fees. Disclosure of conflicts does not alleviate a brokerage firm of the conflict or give it a license to abuse it.