FIA EPTA welcomes the opportunity to respond to the FCA’s consultation on changes to UK MIFID’s conduct and organisational requirements with a particular view on best execution reports.
We agree with the FCA assessments that, in their current form, RTS 27 (quarterly reports) and RTS 28 (annual reports) have not achieved their policy goal of enhancing investor protection or improving information on execution quality and order routing. For this reason, we would suggest to replace the current RTS 27 and 28 rules by a more effective regime which should be simplified, more standardised and generally more useful to both wholesale and retail market participants.
