English to French Bus/Financial Finance (general) Asset management

The Sub-Investment Manager may utilise “soft commissions” to pay only for research and brokerage products or services that it believes satisfy the definition of “research” or “brokerage” under Section 28(e) of the U.S. Exchange Act of 1934, as amended.
Section 28(e) is a “safe harbor” that permits an investment manager to use “soft commissions” to obtain certain research and brokerage services in connection with the investment decision-making process.
Under Section 28(e), research obtained with “soft commission” credits generated by the Sub-Fund may be used by the Sub-Investment Manager to service accounts other than the Sub-Fund.