Q&A · ESMA
Inducements
Answered
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There is no carve-out for fixed income, currency and commodity research from the inducement restrictions in Article 24(7)-(8) MiFID II: depending on its nature it is research (paid under Article 13 of the Delegated Directive) or a minor non-monetary benefit, and firms may pay for it themselves, through an RPA or by subscription.
Details
| Reference | ESMA_QA_1797 |
|---|---|
| Issuer | ESMA |
| Published | 23 Mar 2018 |
| Answered | 23 Mar 2018 |
| Submitted | 23 Mar 2018 |
| ESMA topics | Inducements (research) |
| Earlier Q&A document | ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 7, question 9 |
Provisions it relates to
- Article 24 MiFID II · General principles and information to clientsInferred · 90%
- MiFID II (whole act)Explicit reference