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.
References in periodicals archive ?
Once again, we'll have to let the lawyers fight it out, but whoever prevails in this case, it should by now be clear that the widespread practices of double-dipping are antithetical to common sense and sound fiscal practice.
While we don't condone double-dipping, we encourage our fans to get together and dial up that party.
The court also said the 1986 Tax Reform Act, in contemplation of enactment of foreign legislation, not intend for the standalone exception to cause the termination of double-dipping to always benefit the foreign country.