Defining Best Practice in Research Procurement
See Agenda here
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.
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