Regulatory Alerts2021-11-26
Order on Third-Party Payments and Related Matters
The Danish Financial Supervisory Authority issued this Order to implement MiFID II provisions regarding the receipt and payment of fees, commissions, or non-monetary benefits by investment firms. It mandates that firms providing discretionary portfolio management or independent investment advice must pass on third-party benefits to clients, while strictly limiting the acceptance of such benefits to those that enhance service quality without creating conflicts of interest. The regulation establishes detailed rules for transparency, documentation, and the management of separate analysis payment accounts to ensure client interests are protected.
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