Featured: PIMFA responds to Investment Research Consultation
View in browser
10 June 2024
PIMFA WEEKLY BULLETIN PRESS RELEASES
ABOUT PIMFA
CONSUMER DUTY
WEALTHTECH
PIMFA responds to Investment Research Consultation On 5 June, PIMFA submitted a response to the Financial Conduct Authority (FCA) consultation CP24/7 for allowing additional optionality for paying for investment research. In our response, we emphasised the vital link between investment research and the attractiveness of the UK as a destination for companies to access capital. We acknowledged that MiFID II reforms on unbundling research and execution costs have resulted in a reduction in the amount of research available and providers. However, while we are supportive of more significant payment optionality and the additional tool this provides firms to pay for research, it is unlikely to be adopted by the retail sector in any material way. For instance, the benefits will depend on the ability and appetite to reverse the current measures introduced by MiFID II, such as moving research costs back to clients. Similarly, firms will need to consider the resource and operational effort, investment and value to allow for research bundled with execution costs. Please see our response here.
New PIMFA Associate Member We are delighted to welcome Mercer as a new Associate Member firm.
Mercer supports wealth managers, private banks and financial intermediaries with independent research and advice, discretionary investment services, as well as single and multi-asset funds through highly rated third-party asset managers.