Gentlemen, It's Not A Club: Disclose Your Soft Dollars

November 2009
Securities Industry News;11/30/2009, Vol. 21 Issue 22, p6
Trade Publication
The article reports that David Persenaire, chief compliance officer of Terra Nova Financial LLC in Chicago, Illinois was suspended. Terra Nova was fined by U.S. Financial Industry Regulatory Authority (FINRA) with 400,000 U.S. dollars due to improper soft dollar payments to five hedge fund managers. It emphasized that Terra Nova did not follow its own compliance policy.


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