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 administration 37 of one or more investment funds from a UCITS management company 38 or an AIF Manager 39 have to comply with the MiFID II inducements requirements in relation to these payments, when the investment firm provides invest ment services to other clients that relate to those same investment funds?
Answer 5
As explained in Question 3 above, from the perspective of the firm’s relationships with its clients other than the UCITS management company or AIF Manager, it is important to determine if the payments received by the investment firm for the provision of the function of administration are in relation to, or in connection with, the provision of investment services to its clients when these investment services concern the UCITS or AIFs administered.
In principle, administrating UCITS or AIFs on behalf of a UCITS management com
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