The FCA has published its findings from a thematic review of inducements and conflicts of interest. Key findings include the following: (i) hospitality provided or received did not always appear to be designed to enhance the quality of service to the client; (ii)  advisory firms incur costs when facilitating training or educational material supplied by product providers and when collecting management information on behalf of a product provider. However, payments in excess of costs incurred are likely to be an inducement and are not allowed; (iii) when disclosing a summary of the allowable benefits provided, MiFID firms were not providing clients with an indication of the value of allowable benefits provided. Given the recent European Parliament confirmation of the delay in implementing MiFID II to 3 January 2018, the FCA has decided to publish the key findings from the review now, to remind firms of its expectations relating to the current rules.