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imported>Doug Williamson |
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| (PFOF).
| | ''Mortgage lending.'' |
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| Payment for order flow is defined by the UK [[Financial Conduct Authority]] (FCA) in FG12/13 [http://www.fca.org.uk/your-fca/documents/finalised-guidance/fsa-fg1213], originally issued by the former [[FSA]], as an arrangement whereby a [[broker]] receives payment from [[market maker]]s, in exchange for sending order flow to them.
| | Standard Variable Rate. |
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| The FCA sees such arrangements (whatever called) as creating potential conflict of interest and pressing against best execution of orders for clients and, accordingly, compromising observation of its best execution rule.
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| More generally in the European Union, such payments may fall foul of the EU's [[MiFID]] rules on "inducements" reflected in the FCA's Handbook ([[http://fshandbook.info/FS/html/FCA/COBS/2/3]] at 2.3.1).
| | == See also == |
| | | * [[Mortgage]] |
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| ==See also== | |
| *[[Best execution]] | |
| *[[Best execution rule]]
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| [[Category:Compliance_and_audit]]
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Revision as of 16:40, 14 August 2016
Mortgage lending.
Standard Variable Rate.
See also
