Defining Best Practice in Research Procurement

The investment research industry has undergone a revolution in Europe. Many changes have been good for market efficiency but asset managers also point to negative consequences for the end investor and the industry. How can the US market benefit from the positive trends while ensuring it avoids the pitfalls? Will a global standard of best practice emerge?

According to Integrity Research Associates, 38% of asset managers not subject to MiFID II plan to use CSAs as the primary research payment vehicle while 19% will pay for research out of their P&L’s or a research charge alongside executions. The recent no-action relief letter from the SEC allows US brokers to take cash payments for research from Europe until mid-2020.

The changes are already happening, what’s unclear is where we are headed.  

300 buy and sellside delegates joined us in London in November 2017 for a day of high quality debate and analysis. We now move to New York to focus on best practices for the buy and sellside – and what the American end investor should make of it all. If US-based asset managers adopt a transparent approach to research procurement will they avoid the European shift to paying for research out of their own resources? What does a transparent process look like?

Join us on the 12th June at the Metropolitan Club, New York, to hear industry leaders from the US and Europe discuss the direction and pace of change for the US investment research industry. Panels will cover the CIO perspective, research valuation and budgeting, the changes in provider business models, best practice in managing CCAs, and technology and platform solutions.


Speakers include:

Radek Barnert, CEO, WeConvene

Ross Barrett, Senior Policy Advisor, The Investment Association

Richard Bove, Chief Strategist, Financial Opportunities Strategy, Hilton Capital Management

Elen Callahan, COO Global Debt Research, Deutsche Bank

Sean C. Davy, Managing Director Capital Markets, SIFMA

Scott Douglass, Executive Director, Instinet LLC

Evan Fire, Chief Information & Operations Officer, Pzena Investment Management

Amrish Ganatra, CEO, Commcise

Jason Glazer, COO, Cornerstone Macro

Francois Gour, Senior Advisor, Frost Consulting

Marc Harris, Head of US Research, RBC Capital Markets

Robin Hodgkins, President, Castine LLC

Stuart Howard, Head of Investment Management Operations, Invesco Perpetual

Michael Hufton, Founder & Managing Director, ingage

Michael Mayhew, Chairman, Integrity Research Associates

Oliver Pratley, Operations Manager, Invesco Perpetual

Henry Price, CCO, Red Deer

Daren Riley, Head of Business Development, ERIC

Vicky Sanders, Co-Founder, RSRCHX

Terence Sinclair, Global Franchise Director, Citi Research

Warren Yeh, Head of US, Smartkarma

Adam Wreglesworth, Wholesale Conduct Policy, FCA