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8 minute read
Payment for Order Flow and a consolidated tape: the impact on retail investors
The European Commission is proposing to introduce a consolidated tape with data on fixed income and equity transactions to help retail (and institutional) investors achieve ‘best execution’. It is also proposing to ban the practice of Payment for Order Flow (PFOF). What is PFOF, and what are the pros… Read More
8 minute read
Investor compensation: seeing the wood for the trees
What is the purpose of investor compensation schemes? When, to what extent, and to whom should compensation be paid? Peter Andrews, Oxera Partner, and Jonathan Haynes, former Oxera Partner, consider a complex case in the High Court of Ireland following the failure of investment firm Custom House Capital. They look at the policy issues, and ask how economic analysis can help courts to determine which interpretations of statute best reflect the intentions of the legislators. Read More