It’s the detailed analysis of quoted companies’ prospects that drives investor interest and ultimately liquidity – the lifeblood of any market.
Yet equity research has withered on the vine since its cost was separated out from brokers’ trading commissions under the EU’s MIFID II rule changes in 2018. A carve out for smaller stocks had little impact.
A recent government review recognised its value as a “public good” and proposed ways to improve the volume and value of what gets written. The question that remains is: who pays for it?
This conversation features two guests from QCA member firms.
Rachel Kent is the author of the investment research review carried out for the UK government. She’s a senior partner in the financial services regulatory team at law firm Hogan Lovells, advising banks, insurers and wealth managers on their affairs. Rachel was also heavily involved in HM Treasury’s Kalifa Review into the fintech sector.
David Johnson is research director at Allenby Capital, an AIM Nominated Adviser and Broker offering a variety of integrated funding solutions for smaller, fast growing companies. Before he joined Allenby in 2016, David head of research or analyst at various firms including Northland Capital Partners, Daniel Stewart and Altium capital.Growth Capital is presented by the QCA’s chief executive, James Ashton.
It is sponsored by Mazars, the audit, tax and advisory firm helping listed businesses grow with purpose.
Mazars is an international audit, tax and advisory firm. Operating in over 95 countries and territories around the world, we combine local knowledge with global perspective to help our clients build and grow their businesses with confidence. In the UK, we are amongst the largest firms in the sector and are a leading auditor to Public Interest Entities (PIEs).