SIA defends revenue sharing between broker-dealers and mutual funds
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SIA president Marc Lackritz says without such third-party payments, many of these administrative and other expenses incurred in processing mutual fund transactions and servicing mutual fund accounts would be borne by fund shareholders through higher operating expenses.
But Lacritz was quick to point out that there was a need for improved disclosure in the revenue-sharing process between funds and broker-dealers.
He emphasised that payments for administrative services do not present the same
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