Art. 24(7)(b) of MiFID II Art. 24(8) of MiFID II Art. 24(9) of MiFID II
Does an investment firm receiving a payment for performing the function of investment management or portfolio management 29 of one or more investment funds for a UCITS management company 30 or an AIF Manager 31 have to comply with the MiFID II inducements requirements in relation to these payments, when the investment firm also provides investment services to other clie nts that relate to those same investment funds?
Answer 3
ESMA approaches this question from the perspective of the relationship between the investment firm and the client to whom the firm provides investment services that relate to units or shares in that fund/those funds. From the perspective of that relationship, the payment made to the investment firm by the UCITS management company or AIF Manager is made by a third party (i.e. a party other than the client or a person acting on behalf of the client).
Fees, commissions, monetary or non-monetary
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