In George Orwell's allegorical novel Animal Farm, the collective's credo was ”All animals are equal” — until the leaders change the credo to ”All animals are equal, but some animals are more equal than others.”
The same might be said for regulators' handling of contingent commissions.
In one of my first blog posts at “Agent for Change,” I threw out the question of whether contingent commissions should be an industry practice, considering the controversy surrounding them. At the time, N.Y. AG Cuomo was reexamining the issue and the consensus was that contingent commissions were bad.
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