Tag Archives: inducements

FCA publishes third policy statement on IDD implementation

FCA has published its third policy statement on IDD implementation, responding to feedback received on various consultations and providing near-final rules. In relation to life insurance distribution business, it covers requirements relating to: Inducements; Suitability and appropriateness; and Information and product disclosure. In relation to all insurance distribution business, it covers requirements relating to: Conflicts […]

FCA publishes second IDD policy statement

As the implementation date for the Insurance Distribution Directive (IDD) approaches, the FCA has published the second of its three policy statements on the implementation of IDD, PS17/27.  This policy statement contains near-final amendments to the FCA’s rules to enable firms to be able to prepare based on the substance of what the final versions […]

FCA makes new rules

At FCA’s Board meeting on & December, it made several new rule instruments, covering (among other things), several changes to take effect from 3 January 2018: minor changes relating to MiFID 2 implementation, including a new definition of “high frequency algorithmic trading technique”, amending various definitions relating to derivatives to ensure they reflect changes to […]

ESMA updates MiFID 2 FAQs

ESMA has updated its set of FAQs on MiFID 2 investor protection. New questions cover: post sale reporting – to confirm that the duty to report on depreciation of portfolios applies to professional clients, and not just to retail; record keeping – to confirm securities financing transactions are within the scope of record keeping requirements; […]

FCA publishes IDD papers

FCA has published its policy statement on its first consultation on IDD implementation, including near final rules, and has also published its third consultation with further proposals. The IDD must be implemented by 23 February 2018. The near final rules cover changes to reflect: application of the IDD: FCA has clarified how the rules apply […]

FCA makes key MiFID 2 rules

On the deadline of 3 July, FCA has made its final rules implementing many aspects of MiFID 2. Its second feedback statement includes its response to consultation on amendments to PERG CASS complaints handling inducements, including adviser charging and inducements relating to research client categorisation disclosure requirements independence suitability appropriateness dealing and managing underwriting and […]

IOSCO reports on order routing incentives

IOSCO has published a report looking at supervisory practices relating to incentives for order routing.  It considers how different jurisdictions require firms to manage conflicts associated with routing orders and best execution. The report focuses on: monetary incentives paid or received by brokers to or from third parties; internalisation and use of affiliated venues that […]