The FCA has published a feedback statement on dealing commissions, saying it strongly supports ESMA's recommendations and wants to implement its own rules alongside MiFID II.
The FCA is looking into the the charges paid by consumers when investment managers execute trades and buy external research on their behalf. It estimates these trades are worth around £3bn a year. The paper is a response to the European Securities and Markets Authority (ESMA)'s final advice to the European Commission on MiFID II, which it released in December 2014. The FCA said it "strongly supports" ESMA's final proposals on research and inducements, especially its plan to separate portfolio managers' payments for research into ring-fenced accounts. The regulator agreed portfolio ...
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