Browsing: Commissions

Update on Proposed Ban on Commission Payments for Corporate Access

01/13/2014
Here is the latest on proposed regulatory restrictions in the UK on commission payments for corporate access and a potential ban on payment for research with client commissions generally.  The ...

Outlook for 2014

01/06/2014
It is time for us to squint into the crystal ball for 2014… Equity commissions By rights, 2013 should have been a boom year for equity commissions.  The S&P 500 increased 32% ...

Instinet Fined for Improper Commission Payments

01/02/2014
The U.S. Securities and Exchange Commission (SEC) on December 26 sanctioned New York-based Instinet LLC for improperly making soft dollar commission payments in a negotiated settlement costing Instinet $813,000. Last August, ...

2013 in Review

12/30/2013
Market Environment After a strong first quarter, commissions frustratingly continued their five year decline despite a robust stock market.  One positive for equity research (and a negative for macro research) was ...

FCA Proposes Changes For Research Commissions

12/02/2013
As promised, the UK’s Financial Conduct Authority (FCA) released last week its consultation paper which proposes clarifications on what is permissible to be paid with commissions, namely that corporate access ...

FCA Chief Attacks Commissions

10/30/2013
Earlier today, the head of the UK’s Financial Conduct Authority (FCA) threw down the gauntlet on fund managers’ use of client commissions to pay for investment research.  In a landmark ...

Survey: Compliance Vigilance Remains High

10/21/2013
A recent survey of investment advisers showed that insider trading continues to be a hot button compliance issue, along with advertising/marketing, social media and political contributions/pay to play. The Investment Adviser ...

UK Regulators And Research Commissions

09/23/2013
Last week, we wrote a blog about recent discussions in the UK regarding the possibility that regulators could ban the use of client commissions to pay for sell-side and independent ...

Will the UK Ban Payment for Research with Client Commissions?

09/17/2013
Visiting London last week, it was clear how white-hot the topic of commission payments for research has become.  The CFA Society of the UK released a poll of its members ...

SEC Condones Fixed Income Soft Dollars

09/10/2013
The U.S. Securities and Exchange Commission recently issued a no action letter to Carolina Capital Markets, Inc. confirming that it is permissible to use commissions generated by fixed income securities ...
1 21 22 23 24 25 26