The former chief executive of the trade body representing the UK’s asset management sector has urged the government to “resist the pressures of any lobbying” to reverse EU rules introduced five years ago that led to an unbundling of investment research.

Writing exclusively for Financial News, ex-Investment Association boss Daniel Godfrey said overhauling the current approach to unbundling — implemented as part of the EU’s MiFID II reforms in 2018 — would be “a grave mistake”.