Q&A · ESMA
Inducements
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
Firms paying for research from a research budget must set it in advance at a granular level, manage it under senior management oversight with an audit trail, value research against quality criteria separately from execution decisions, and keep payments unlinked to transaction volumes; fixed subscription arrangements may be acceptable if justified by client benefit.
Details
| Reference | ESMA_QA_1798 |
|---|---|
| Issuer | ESMA |
| Published | 4 Apr 2017 |
| Answered | 4 Apr 2017 |
| Submitted | 4 Apr 2017 |
| ESMA topics | Inducements (research) |
| Earlier Q&A document | ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 7, question 10 |
Provisions it relates to
- Article 24 MiFID II · General principles and information to clientsInferred · 85%
- MiFID II (whole act)Explicit reference