Under what circumstances may a licensed broker accept fees from an attorney?(2022 October No.73 – Broker Compliance)
A) A broker may accept a retainer fee from an attorney for recommending the attorney to brokerage import and export clients, so long as the retainer is associated with a per client referral fee that is expensed over a reasonable amount of time.
B) A broker may accept fees measured to be commensurate with the time, effort, and skill, expended for services provided to the attorney on account of any case litigated in any court of law or other legal service rendered by an attorney to a client.
C) A broker may accept fees measured to be commensurate with the time, effort, and skill, expended for services provided, along with an amount in fees not-to-exceed five percent (5%) of any court ordered judgment which directly involves the brokerage services rendered.
D) A broker may accept fees from an attorney provided that a valid power of attorney is in place, and there is explicit written confirmation of the fees to be paid from the represented client.
E) A broker may accept fees from an attorney when a pre-existing legally binding contract is in place to document the terms of agreement between all interested parties.
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The Answer is: B
Citation: 19 CFR 111.35
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