Sellside research is in the spotlight after Financial Conduct Authority chief Martin Wheatley last month announced a root-and-branch review of how asset managers pay for it. Major changes for sellside institutions could ensue, while the review will also throw into relief the quality of what managers are buying.

About 16 months after John Kay's report on how to combat short-termism in the City, the upshot could be more of the type of rigorous, long-term focused research which the renowned economist says is needed to build trust between companies and investors.