The FCA has made its final rules that will give pooled investment funds, including UCITS and AIF managers, more flexibility in how they pay for investment research. The changes mirror those from summer 2024 that applied to MiFID firms in relation to institutional investors. The changes allow these managers to use a joint payment option for research and execution services, subject to some guardrails – which firms can apply either at fund level or across a range of appropriate funds. The changes are mainly in COBS18 Annex 1 and COLL and come into force immediately, on 9 May 2025.
FCA extends investment research payment freedoms to pooled funds
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