FCA final rules for amendments to the MiFID2 research payment rules

What's new?

On 26 July 2024, the FCA published a policy statement (PS24/9) on Payment Optionality for Investment Research. Under the new rules, UK firms are permitted to pay for research using bundled payments, as a new third option alongside the existing RPA and P&L models.

Simmons & Simmons Client Note

Our client note, "Back to the (bundled research) future: FCA final rules for amendments to the MiFID2 research payment rules", provides a summary of the following top 10 things that firms need to know about the FCA policy statement:

1. What's the background to the new rules?
2. What's the context to the FCA's new rules?
3. What does the FCA policy statement introduce?
4. What are the guardrails for using the joint payment model?
5. Which firms will be affected by these changes?
6. Are there other changes?
7. What will be the options for receiving research?
8. What's the timing?
9. What should we do, if we want to use the joint payment model?
10. What does Simmons & Simmons think?

Please reach out to one of the contacts listed on this page should you wish to discuss how these new rules impact your business.