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Double Dipping

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Double Dipping
The practice of receiving two incomes from the same source. It especially, but not exclusively, refers to a broker placing commission-based securities into a fee-based account. This means that the broker receives both commissions and fees from transactions on that account. While this is not illegal in itself, double dipping must conform to the prudent person rule.


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Harrison: "One article accuses farmers of double dipping because they may receive crop insurance and ad hoc disaster assistance on the same crop, but then contradicts itself by acknowledging that '[t]hose farmers have come to depend on both crop insurance and disaster payments, which together allow for covering up to 95% of the value of their crops.
I believe that would be double dipping, wouldn't it?
This goes beyond the intent of the statute--to prevent the double dipping of losses," the Institute said.
 
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