After a one-year phase-in period, HP will impose up to a 10% hold back of firm fees if certain firm diversity requirements are not met.
While the City Clerk's office assesses the top 10 lobbying firms in terms of fees received, it does not produce a list of clients that spent the most.
"Right now, the big firms have a tower of fees," he said.
Some financial advisory firms receive a portion of fees for steering their clients to certain money management funds.
Here's how much in fees various advisers may lose: Perhaps just as important for these firms as the loss of fees is the loss of prestige.
"These cases clearly indicate that bankruptcy courts are no longer being fooled by the maze of fees, firms and flim-flams of the mortgage servicing industry," said O. Max Gardner III, a lawyer who represents borrowers in Shelby, N.C.
Some firms probably feel as though the largest part of their performance presentations are the GIPS required disclosures, as firms have to disclose many items, including a definition of the firm, whether performance is net of fees or gross of fees, and what additional information must be disclosed upon request.
But the firm is still awaiting receipt of fees for several other huge mergers and acquisitions that have been announced but have not been completed.
In 2012 the firm returned about 13 percent net of fees, which, while slightly underperforming the Standard & Poor's 500-stock index, was superior to the results of the average hedge fund.
Although K.K.R.'s longtime investors, mostly state pension funds and large institutions, had been rewarded amply since 1976 with an internal rate of return of 20.1percentt, net of fees, the firm's more recent investments had given investors pause.
