Browsing: Soft Dollars


Will Clients Agree With UK Asset Managers’ Possible Move to Using Commissions to Pay for Research Once Again?

Since July 2023, the UK asset management industry has been discussing whether the research payment optionality proposed by Rachel Kent in her UK Investment Research Review is realistic, particularly since ...

Extending SEC “No Action” Will Harm US Investors

Recently, Harvard Law School Professor, Howell E. Jackson and CEO of Healthy Markets Association, Tyler Gellasch published an article arguing that “if the SEC [extends its “no action” letter], public ...

TIAA Joins Ranks of US Managers Paying for Research from P&L

According to a recent article, US asset manager TIAA has joined the ranks of less than ten US asset managers that have started paying for third-party research from their P&Ls, ...
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SEC Issues Warning on Best Execution and Soft Dollars

The SEC’s inspections unit issued a ‘Risk Alert’ summarizing the most common deficiencies pertaining to best execution and soft dollars that its staff has cited in the wake of investment ...
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Research Funding Roundup: Robeco and Kempen Will Pay For Research From P&L But Invesco and BNP Paribas Will Not

BNP Paribas Asset Management, which oversees €580 billion ($672 billion), and Invesco, which manages $859 billion, have announced they will fund research payments alongside commissions, while Dutch managers Robeco, with ...

Most US Money Managers Not Subject to MiFID II & May Continue to Use Soft Dollars

The following is a guest article by Lee Pickard, Will Edick, and Kristen Hutchens, lawyers at Pickard Djinis and Pisarri LLP which has previously obtained U.S. no-action relief relating to Section ...

US Equity Commissions Fell 13% According To Latest Greenwich Survey

US equity commissions fell 13% for the 12 months ended mid-February 2017, according to the latest Greenwich Associates’ US Equity Investors survey.  Commissions fell to an estimated $8.4 billion from ...

Germany’s Third Largest Asset Manager Will Not Pay For Research From P&L

Union Asset Management, with €310 billion (US$345 billion) in assets under management, said it was unlikely to pay for research costs under new MiFID II research unbundling rules going into ...

Aberdeen Projects £10 million Equity Research Payments From P&L

In a recent earnings call, Aberdeen Asset Management, a UK asset manager with over £300 billion (US$390 billion) in assets under management, said it expects to spend £10 million (US$13 ...

Henderson Global Investors Will Not Pay For Research From P&L

In a recent earnings call, UK asset manager Henderson Global Investors said it would be funding research payments alongside commissions under forthcoming MiFID II regulation. Andrew Formica, Chief Executive, responded ...
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