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Disclosure Levels
Full Disclosure – A “Yes” indicates that Greenwich Associates may disclose an RP’s
company name, full contact name, location, assets under management, commission
volume and all individual answers in our IAP Report to our clients’ senior management
(not to be shared with sales representatives). Full disclosure includes:

1. Respondent’s name and institution
2. Information not related to specific brokers / dealers including overall
commission volume, assets under management and/or research allocation
3. Greenwich Associates Quality Index (Difference from Mean)
4. Important broker / dealer relationships (brokers / dealers used in order of
importance)
5. Broker’s / Dealer’s research and/or trading qualitative evaluations
6. Open-ended comments related to specific brokers / dealers

Participation Only – Greenwich Associates may reveal that an individual participated in one
of its interviews. An * will be shown next to the company and contact name on Greenwich
Associates’ full list of potential study participants, which contains all of the individuals and
companies targeted for the study.

Responses to open-ended questions are shown to clients as "anonymous" quotes
without attributing the information to a respondent by location, type of institution or size
of institution based on assets under management or commission spend.

No Disclosure – If an RP is not willing to disclose participation or individual
responses, Greenwich Associates will not reveal information indicating that individual
participated in the research study. No attribution by location, assets under management,
commission volume or product-level information will appear in the IAP report. The RP’s
name and company will still appear on our universe of institutions that we target for our
studies however.

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