N.Y. Comp. Codes R. & Regs. tit. 3 § 22.20
A trust company administering a common trust fund shall have the exclusive management thereof and shall not charge a fee for the management of the common trust fund, or receive, either from the common trust fund or from any estates, trusts or funds, the funds of which are invested in participations therein, any additional fees, commissions, or compensations of any kind by reason of such participation. The trust company shall not pay a fee, commission, or compensation out of the common trust fund for management. Nothing in this section shall be construed as prohibiting a trust company from reimbursing itself out of a common trust fund for such reasonable expenses incurred by it in the administration thereof as would have been chargeable to the respective participating estates, trusts, or funds if incurred in the separate administration of such participating estates, trusts or funds. The cost of printing, publication and distribution of the annual audit report referred to in section 22.17 of this Part shall be borne by the trust company.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 22.20