International equity investment managers long complained to me that the foreignexchangearrangements my public pension clients entered into with their custodians, which forced external money managers to settle such transactions with the custodian resulted in poor execution and diminished international equity performance.
FORBES: Pensions Demand Return of Global Custodian Bank Overcharges
2.
Soft dollar and proprietary trading, securities lending, foreignexchange and custody arrangements are additional issues in need of review.
FORBES: SEC Commissioners Wanted: Plaintiffs Lawyers and Consumer Advocates Need Not Apply (Sept 10,2010 )