For those not in the know, retrocession payments are commissions paid (most often on an annual basis) by fund and structured product producers to their distributors and financial advisors who sell or promote the product to Joe Public.
Late last year the Swiss Supreme Court ruled that all such monies were in fact the property of the client and that financial advisors etc must pay them over to their clients!
What has this got to do with us, you may well ask... Well in the coming months the European Parliament will be considering similar legislation and they will come under heavy pressure for 'The City' to reject it. So if you are concerned about keeping investment fees down, it would be a good idea to let your MEP know about your support for the legislation.
Late last year the Swiss Supreme Court ruled that all such monies were in fact the property of the client and that financial advisors etc must pay them over to their clients!
What has this got to do with us, you may well ask... Well in the coming months the European Parliament will be considering similar legislation and they will come under heavy pressure for 'The City' to reject it. So if you are concerned about keeping investment fees down, it would be a good idea to let your MEP know about your support for the legislation.