CESR has published its report on good and poor practices involving inducements and feedback on its consultation. The report focuses on five points:
- classifying payment and non-monetary benefits and ensuring the firm is compliant;
- proper fees;
- payments and benefits authorised but with conditions and how these are in the best interests of the client;
- disclosure of certain permitted benefits; and
- experience of cross-border implementation.
In each area, CESR has identified good and poor practices based on a questionnaire it sent to Member States. In its feedback statement it also responds to questions respondents asked. (Source: CESR/10-295 and CESR/10-296)