Court of Appeals for the Fifth Circuit February 17, 1981, 79-2099 (Fed. Sec. L. Rep. P 97,872 Lila A. Miley v. Oppenheimer & Company, Inc., Anthony L. Geller and John W. Hamilton)

GOLDBERG, Circuit Judge;

For as long as investment brokers have been remunerated on a commission basis, the potential has existed for brokers to excessively trade accounts in an effort to generate fees.