PERAC Memo #46 - 1997: 1997 Annual Brokerage Statement Filing Requirement
1997 Annual Brokerage Statement Filing Requirement
View original on MA State Library →Summary
PERAC Memo #46/1997 transmits the 1997 Annual Brokerage Statement, which each retirement board must complete for the period January 1–December 31, 1997, and submit to Robert Shaw, Director of the Pension Investment Advisory Unit, by May 1, 1998. Boards must disclose whether they maintain any "soft dollar," directed brokerage, cash rebate, commission recapture, or similar arrangements with vendors, and if so, identify the vendors and brokers involved, describe the products/services financed, and attach a listing of related payments and a breakdown of commissions generated. Only one consolidated statement covering the board's entire portfolio is required, not separate forms per vendor, and it must be signed by the Executive Secretary/Administrator and board members.
Full Text
PERAC MEMO #46/1997 Please find attached a 1997 Annual Brokerage Statement. This Annual Brokerage Statement must be completed by each board for the period January 1, 1997 through December 31, 1997 and must be submitted by May 1, 1998. Please note that it is not necessary for the board to complete an individual Annual Brokerage Statement for each vendor, but for the board to submit one Annual Brokerage Statement (with any necessary attachments) that provides the appropriate information for the entire board’s portfolio. Please submit this statement to Robert Shaw, Director of the Pension Investment Advisory Unit. /rc \streettalk\user files@pera adm office@per\allusers\sarah\97memos\46.doc Attachment
1997 ANNUAL BROKERAGE STATEMENT (To be filed on or before May 1, 1998 for Calendar Year 1997) Name of Retirement Board: _____________________________________________________ 1.Does the retirement board have a “soft dollar”, “directed brokerage”, “cash rebate”, “commission recapture”, or similar arrangement with any vendor providing services to said board? Yes _____No _____ If Yes (please attach additional pages if necessary): 2.Please provide the following: (a) Name of vendor(s) ___________________________________________________________
(b) Name of the broker(s)_________________________________________________________
(c) Product(s) or service(s) being financed through said arrangement
3.Please attach a listing of all payments made through said arrangement(s). 4. Please provide a breakdown of all brokerage commissions generated pursuant to such an arrangement. DATE:
Executive Secretary/Board Administrator
Elected Member
Ex-Officio Member
Elected Member
Appointed Member
Appointed Member PERAC ABS1297