Rulestack

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

ReferenceESMA_QA_1798
IssuerESMA
Published4 Apr 2017
Answered4 Apr 2017
Submitted4 Apr 2017
ESMA topicsInducements (research)
Earlier Q&A documentESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 7, question 10