Regulatory Alerts2025-05-09
Added · Updated
PS25/4: Investment research payment optionality for fund managers
The FCA introduces a joint payment option allowing UK UCITS management companies and UK AIFMs to pay for investment research using combined research and execution charges, subject to specific guardrails. Firms adopting this option must establish written policies, set research budgets, allocate costs fairly, and assess value on a fund-by-fund basis, while authorised fund managers must notify unitholders and the FCA of this significant change. The rules also amend acceptable minor non-monetary benefits by permitting short-term trading commentary and removing the exception for research on smaller companies.
More like this from FCA
FCA published 5 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share