Definition of client-commission arrangements CCAs

Often closely associated with commission-sharing arrangements (CSAs), client-commission arrangements (CCAs) are a form of soft dollar arrangement between a U.S. fund advisor and a broker.

This type of arrangement rose to prominence in 2006 after the Securities and Exchange Commission (SEC) adopted interpretive soft dollar guidance noting that brokers in step-out arrangements do not need to perform certain duties. In a CCA, any amount a fund company pays above trade execution is put into a pool to pay the broker for research. [1]

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