Defined terms relating to the trust and fiduciary activities exception from the definition of “broker.”

CFR · 2024-01-01 · US · Title 12

(a) (1) (2) The (3) The (i) Equal to the relationship compensation attributable to the (ii) Calculated within 60 days of the end of the year. (4) (i) An administration fee, including, without limitation, a fee paid— (A) For personal services, tax preparation, or real estate settlement services; (B) For disbursing funds from, or for recording receipt of payments to, a trust or fiduciary account; (C) In connection with securities lending or borrowing transactions; (D) For custody services; or (E) In connection with an investment in shares of an investment company for personal service, the maintenance of shareholder accounts or any service described in paragraph (a)(4)(iii)(C) of this section; (ii) An annual fee (payable on a monthly, quarterly or other basis), including, without limitation, a fee paid for assessing investment performance or for reviewing compliance with applicable investment guidelines or restrictions; (iii) A fee based on a percentage of assets under management, including, without limitation, a fee paid (A) Pursuant to a plan under § 270.12b-1; (B) In connection with an investment in shares of an investment company for personal service or the maintenance of shareholder accounts; (C) Based on a percentage of assets under management for any of the following services— ( ( ( ( ( ( ( (D) Based on the financial performance of the assets in an account; or (E) For the types of services described in paragraph (a)(4)(i)(C) or (D) of this section if paid based on a perce

official document · source cfr-2024 · id 12:§ 218.721