FSA proposals to restrict fund managers and brokers

REGULATIONS AND COMPLIANCE

LONDON -- Last month’s proposals from the UK’s Financial Services Authority (FSA) would effectively curtail the extent to which brokers and fund managers can negotiate ‘soft commissions’ and ‘bundling’ services. The proposals are likely to have far-reaching consequences on the buy side.

The financial regulator proposed that "fund managers would no longer be able to incur costs for services additional to dealing without the customer’s express agreement", in a press release on April 7. The doc

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