Q&A · ESMA
Inducements
Answered
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Firms may not simply accept unrequested free research: it falls under the inducement rules, so independent advisers and portfolio managers must pay for it under Article 13 of the Delegated Directive, others must assess it under Article 24(9), and unwanted research should be blocked or stopped.
Details
| Reference | ESMA_QA_1791 |
|---|---|
| Issuer | ESMA |
| Published | 16 Dec 2016 |
| Answered | 16 Dec 2016 |
| Submitted | 16 Dec 2016 |
| ESMA topics | Inducements (research) |
| Earlier Q&A document | ESMA 35-43-349 MiFID II Q&As on Investment protection Ch. 7, question 3 |
Provisions it relates to
- Article 24 MiFID II · General principles and information to clientsInferred · 95%
- MiFID II (whole act)Explicit reference