Schroders' Dobson dismisses dealing commission fears

Schroders chief executive Michael Dobson has played down the impact of a potential unbundling of dealing commissions on the business, saying analyst concerns are exaggerated.

Speaking after the publication of the group's third quarter results this morning, Dobson (pictured) pointed to a number of mitigating factors which he suggested would insulate the fund house from new regulation on how asset managers pay for investment research. Though in the early stages, the European Securities and Markets Authority (ESMA) has proposed banning the use of dealing commission to pay for this research, a move backed by the UK's Financial Conduct Authority. Schroders' share price dipped last month when analysts at Bank of America Merrill Lynch suggested such proposals, if...