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Related Party Transactions
6 Months Ended
Jun. 30, 2012
Related Party Transactions  
Related Party Transactions

16.  Related Party Transactions

 

During the six months ended June 30, 2012, the Company, in the ordinary course of business, provided retail brokerage, consulting and financial advisory services to, and received wholesale brokerage services from, an entity that is controlled by one of the Company’s shareholders.  These transactions were negotiated on an arms-length basis and contain customary terms and conditions.  During the three and six months ended June 30, 2012, commissions and fee revenue from these transactions were approximately $5 million and $8 million, respectively. During the three and six months ended June 30, 2011, commissions and fee revenue from these transactions were $2 million in each period.