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SUBJECT:
Shumway Payment
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H
Hunter Biden
<[email protected]>
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PROCESSED
Do we care that Shumway's payment is coming from a "soft dollar" account at the fund? I asked Arlene and Devon what this was and it is apparently a separate account not from management fees. Arlene described it as a "slush fund" and Devon said it is typically used for research - exactly what they are paying us for. Arlene said we should be asked to be paid out of a different account - said the SEC looks more closely at these accounts - Devon didn't think it was a problem as research typically is paid this way and that's exactly what we did. You know which opinion I trust more. Just wanted to see if you had any opinions. -- Eric D. Schwerin Rosemont Seneca Partners (202) 333-1880 [email protected]
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