ZKA response on Inducements under MiFID

02 May 2007

Responding to the CESR consultation on inducements under MiFID the ZKA strongly welcomes the fact that CESR is no longer pursuing the approach of a proportionality between the amount of the inducement and the value of the investment service. It also welcomes that that CESR no longer requires a direct relationship between the individual inducement and the enhancement of quality of a particular investment service provided to a customer as this would have caused in practice hardly solvable problems concerning the proof and the documentation of the “enhancement-test”.

“Overall, the second consultation paper accordingly earns our emphatic support”, ZKA states pointing out a few items that would require further clarification.

ZKA paper

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