It also did substantial investment banking work for Enron, which generated fees for the firm.
Mergers worldwide rose to a record $3.43 trillion in 1999, generating fees for banks that arranged them.
Aitan Goelman, the CFTC's director of enforcement, said: "Investors are entitled to know if a bank managing their money favors placing investments in its own proprietary funds or other vehicles that generate fees for the bank.
Indeed, for many homes outside the United States, that box may be the only computer in a household and could be the hub that links to other household devices, from telephones to electric meters, each of which could generate fees for the box's owner.
Several firms have large dollops of their own capital in buy-out funds, which also generate fees for their advisory and lending arms.Even if the Volcker rule's financial impact is modest, banks could face "a thousand cuts" to profits when the full range of regulatory initiatives is totted up, says Richard Ramsden of Goldman Sachs.
The capital markets have turned cold on the optical-widget space, which has ceased to generate fees for the investment banks.
But also make sure they know that there's upside – a successful client that raises venture capital, gets sold, enters into a lot of deals, etc. will generate fees for them down the road.
An initial stock offering in Hong Kong and New York could reap $5 billion to $10 billion, generating fees of $150 million to $300 million for the underwriter.
That banking quartet could generate fees of $70m each for brokering the $14bn of debt that underwrites the offer.
No details yet, but I'd expect users to be able to generate fees from recommending friends for jobs (an activity that is already encouraged on the site).
The challenge for Schwab is to get customers to take the money they are depositing at the firm and start moving it around to generate fees and commissions for the firm, Mr. Moszkowski said.
