Virtual event: P&L research payments - the end of an era?

Virtual event for Institutional investors only - with the FCA expected to release their consultation paper on research payment optionality before the end of March, is the era of Asset Managers paying for research from their own P&L coming to an end?

Date: Thursday, 29 February 2024
Time: 15:00-15:30 (GMT)
Host: Alex Cardell, Head of Client Strategy


Neil Scarth from Frost Consulting will discuss the likely direction of travel in the UK and EU, and the benefits this could bring for both Asset Managers and the UK capital markets more broadly.

  • Will the FCA endorse research payment optionality?
  • What does this mean and what shape will this take (e.g. a return to CSAs)?
  • How can asset managers switch to using client money after years of paying from P&L?
  • How will this affect the profitability of Asset Managers?
  • Advantages and disadvantages of P&L vs Commission.
  • What impact will this have on the research industry: Supply/Demand/Pricing?
  • Audience Q&A.

About Neil Scarth:
Neil Scarth, Principal at Frost Consulting, is an acknowledged authority on investment research valuation/allocation strategies, designed to help asset managers navigate complex global regulatory landscapes.
Frost has ongoing active engagement with regulators, UK government, and other market participants related to research issues on a Trans-Atlantic basis, including the critical evolving interface between asset managers and asset owners. Neil’s regulatory influence has encompassed the period leading up to, and during MiFID II, through the recent UK Research Review and EU Listing Acts that will succeed MiFID.
Neil has held diverse positions in asset management and investment banking, ranging from leading equities businesses at global banks to managing a spectrum of asset management equity products in both the US and Europe.

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