Series 52: 3.5.1. Disclosure Of Expenses

3.5.1.  Disclosure of Expenses

One of the tasks the managing underwriter must complete within that 30-calendar-day period is to provide all syndicate members with an itemized statement disclosing the nature and amount of all syndicate expenses to the other syndicate members. This includes an itemization of all management fees and discretionary fees for clearing costs.

The syndicate manager must also furnish a summary statement showing:

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