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FCA: PS25/4: Investment research payment optionality for fund managers

09 May 2025 (UPDATED: 13 Mar 2026) United Kingdom 1 min read

FCA is taking forward recommendations from the Investment Research Review and feedback to CP24/21.  These affect UCITS management companies, full-scope AIFMs and small authorised UK AIFMs and residual collective investment scheme operators.  Rules have been implemented which allow fund managers to pay for research with a joint payment option.  Firms that decide to take up the joint payment option are told to familiarise themselves with the final rules on joint payments in COBS 18 Annex 1 and relevant rules in COLL for authorised funds.


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