Tiner gives December deadline on softing, bundling changes

Giving brokers, fund managers, and others in the industry extra time to develop a process for improving disclosure of such payments may provide the best outcome, particularly as feedback on CP176 Bundled Brokerage and Soft Commission Arrangements indicates continued differences in exactly how to bring about change. The regulator intends to publish its own Policy Statement on softing and bundling by next month, as well as research conducted by accountant Deloitte & Touche suggesting there will not be an exodus of business from the City even if stricter rules apply. However, Tiner says ...