MiFID II 'unbundling' rules working well for investors - FCA

In a review published today (19 September), the Financial Conduct Authority (FCA) said the Markets in Financial Instruments Directive's (MiFID II) research unbundling rules are working for investors. MiFID II, which came into force on 3 January, last year, meant asset managers were required to pay for research separately from execution services and either charge clients transparently or pay for research themselves. Before the introduction of MiFID II, research costs were often ‘bundled' into transaction fees borne by investors' funds, leaving firms unable to suitably control how much ...