An assessment of the proposed changes to regulation of bundled brokerage and soft commission arrangements

April 11, 2003

The IMA (Investment Management Association) commissioned CRA to undertake an independent appraisal of both the potential impact of the FSA’s proposals set out in CP1761 and the cost-benefit analysis undertaken for the FSA by OXERA2. In particular, CRA was asked to examine in more detail: how these proposals might be implemented in practice; how the detail of their rules could affect the market outcome; and whether there were alternative proposals also worthy of further consideration.

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