ESMA_QA_2557
03/06/2025
Subject Matter
Investment firms’ use of rebates and discounts to lower fees for clients under the payment for order flow (PFOF) prohibition
Original question
Are investment firms allowed to use rebates and discounts to lower fees for clients?
Status: Forwarded to EC/Public Consultation/Other
Additional Information
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries
Additional Legal Reference
Article 39a, Paragraph 1
Topic
Inducements