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 ?
Perry's double dipping only came to light when he ran for president and faced much tougher federal disclosure rules that require candidates to reveal retirement income.
Double dipping cases frequently confront judges, but so far there is no consistent approach to the problem.
Attorney General Greg Abbott, the leading Republican candidate to replace the retiring Perry, is pushing ethics reform and recently told a TV station he wanted to prohibit double dipping by politicians.