you have to remember a couple of things. So it is being provided by somebody else, either through advertising or through direct payment, and the people in financial services obviously the people that are looking for that demographic, are very often financial services companies, and that's what's driving them. And to help them make financial decisions for themselves. It's, you know, in our case, it's not co- branded. They use CPMs, cost-per-thousand. That's my experience anyway. Commissioner Hunt: I think what we've got to also make clear is who has got the liability when you show that the trade has gone through and the broker has somehow screwed. It is extremely important that we be allowed to avail ourselves of the economic efficiencies that the Internet brings to our relationships with our advertisers. Acting Chairman Unger: Thank you, Steve.
Advertising and Relationships
Colby: I'm Bob Colby from the Division of texans and Congress Market Regulation. And then, to come full circle, you do get to the functions, because while I think statutory qualification standards, disqualification, and continuing education, and the like are very important, those are important if you're doing one of the two things that broker-dealers do executing transactions. And when it's a point of view from one of our analysts, we're really proud of that. Of course, underlying all of this is the concern with the salesman's stake that comes up in connection with transaction-based compensation, and I suppose that there is some validity to the possibility of a portal sort of modifying its content, in an attempt to take. I guess there are just a few really important points that distinguish what's going on in the broker-dealer community, and that is in and I'm going to use advertising rules as the catch all. One very popular affiliate network, called Commission Junction, alone has 1,500 merchants and 350,000 affiliates, and third parties have now emerged in a very sophisticated marketing area to help manage the enormous demand.
Complex, relationships in Digital
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