Series 79: Syndicate Expenses

Syndicate Expenses

On or before the date of final settlement, the syndicate manager must distribute an itemized statement of syndicate expenses to each member of the selling syndicate. The statement must include (where applicable) the following categories of expenses:

• • Legal fees
• • Advertising
• • Travel and entertainment
• • Closing expenses
• • Loss on oversales
• • Telephone
• • Postage
• • Communications
• • Co-manager’s expenses
• • Computer and data processing charges
• • Interest expense
• • Miscellaneous

Other major items not inclu