In this report, we explore how MiFID II inducements requirements apply to firms and their counterparties in common scenarios.
The MiFID II inducements regime is complex and can cause confusion. Not only do different requirements apply to different scenarios, but the same requirements apply differently to the different parties involved in a single scenario. As a result, parties to a transaction may reach different conclusions when conducting their own assessment of whether a particular fee structure or benefit is permissible. This may be the case in common sell-side/buy-side and manufacturing/distribution interactions.
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