In an effort to leave less to the imagination, members of the Securities and Exchange Commission last week unanimously approved the first set of soft dollar guidelines issued in 20 years. While some championed the guidelines as a boon to the business, others argued they do not go far enough.

First introduced for comment in October, the guidelines call for money managers to limit their research spending only to products that assist in making investment decisions that benefit investors directly.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.