Template:M comp disc 2000 GMSLA 9.4

Differently worded than the equivalent, Clause 9.3 in the 2010 GMSLA, but they probably get to much the same place: these are “reasonable” costs — meaning you can’t just pluck any old number from the sky or call up your buddy to sell you the securities at an outrageous markup, but — per Barclays v Unicredit the courts will not second guess a dealer on the question of what was a reasonable price, absent obviously egregious behaviour.