The firm also reaped $5.6 million in 2003 in "communication fees," which were passed on to policyholders unbeknownst to them, the complaint said.

The S.E.C. contends that the firm reaped approximately $4 million through such unauthorized tenders.

The firm also reaped the rewards of a swing in the returns it realizes on merchant banking activities.

Some years ago, when the firm of Douglas, Lacey & Company was reaping its harvest, an inspector was assigned to investigate the concern's operations.

Certainly a pioneering firm will reap the benefits of early profits, but sometimes economic profits fall close to zero as the patent expires.

The firm reaped many hundreds of thousands of dollars more last year from those other services, its clients said in interviews.

Although the marriage has yet to be consummated, the firms are already reaping some of the benefits of the linkup.

And two firms, Goldman and Morgan, have reaped most of the bounty.

It saw profits jump to $90.8 million, an increase of 12% from the same period in 2008, which saw the firm reap $80.9 million in net income.

It is important to take action that will help those firms to fully reap the benefits of the single market.