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FCA puts off publishing inducements review report 

October 13, 2015

Justin Cash, citywire.co.uk

The Financial Conduct Authority (FCA) will not publish the findings of its review into inducements and conflicts of interests in a thematic report, and will instead roll the results into its proposals on the subject under the EU’s Markets in Financial Instruments Directive (Mifid) II.

The FCA first laid down guidance on how advice firms should deal with conflicts of interest caused by receiving provider payments in January 2014, before launching a further thematic review into inducements focusing on loans made by providers to advice firms in March this year.

Mifid II incorporates new rules regarding inducements standards for independent advisers, and the FCA has decided to incorporate the findings of its own thematic review into a consultation paper on the Mifid II proposals due at the end of this year.

‘We will not be publishing a thematic report,' the FCA confirmed. 'As we highlighted in discussion paper DP15/3, Mifid II will address inducements standards for independent advisers, and we will use this opportunity to consider more widely the impact on our domestic inducements regime for advisory firms.’

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