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FCA scraps MiFID research rules on small-caps.
The Financial Conduct Authority (FCA) will scrap MiFID rules on research for companies with a market cap of less than £200m in order to increase the research coverage from SME issuers and “create a regime that is proportionate to the risks of inducements that arise”.
In a policy statement issued on Tuesday (30 November), the FCA said the new inducement rules mean research on firms below the threshold can be provided by brokers to asset managers on a "bundled basis"...
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