On April 23, the UK Financial Conduct Authority (FCA) published a report on payment for order flow (PFOF).
The report provides an update on the FCA’s supervisory work on conflicts of interest and PFOF, and it follows the FCA’s preliminary findings that were published in issue 56 of its Market Watch newsletter (as reported in the September 28, 2018 edition of Corporate & Financial Weekly Digest).
Continue Reading FCA Publishes Report on Payment for Order Flow
On September 24, the UK Financial Conduct Authority (FCA) published Issue 56 of Market Watch, its newsletter on market conduct and transaction reporting issues.
Issue 56 contains articles that provide a useful reminder in relation to obligations in relation to market abuse surveillance and payment for order flow (PFOF).
Continue Reading Issue 56 of the FCA’s Market Watch Newsletter Covers Market Abuse Surveillance and PFOF
On December 13, the UK Financial Conduct Authority (FCA) published a “Dear CEO” letter expressing its concerns over the practice of brokers demanding payments from counterparties in exchange for conducting client business with them, also known as payment for order flow (PFOF). The letter follows the FCA’s September 2016 update, published in their Market Watch newsletter, which reiterated the requirement of firms to continue to meet their obligation with regards to conflicts of interest management in the FCA’s Systems and Controls Handbook Rules (SYSC) (for further information, please see the Corporate & Financial Weekly Digest of September 30, 2016).
Continue Reading FCA Publishes “Dear CEO” Letter on Payment for Order Flow
On September 27, the UK Financial Conduct Authority (FCA) published an update on its work in relation to payments for order flow (PFOF) in its latest Market Watch newsletter on market conduct and transaction reporting issues. Notably, the commentary on PFOF follows previous guidance on the practice (PFOF Guidance) published by the UK Financial Services Authority in May 2012, and follows findings from a thematic review of PFOF published in July 2014 (PFOF Review).
Continue Reading FCA Publishes Further Commentary on Payments for Order Flow
