Praised wholesale firms for MiFID II efforts
Comes into force 25 May
Firms must improve compliance and risk standards
A quarter spend half a day on investment reviews
'Entirely self-centred and devious'
Loch Ness monster fee reference made in 2016
Warland: "Heads should roll in the FCA."
Follows industry criticism
Considering measures to protect retail investors
Substantial fine for former RBS trader
Temporarily removes some trusts
Advisers must push for change - PortfolioMetrix
Smaller companies less prepared
Govt not pursuing equivalence
Artemis IM, Hargreave Hale, Newton IM, River & Mercantile AM
When you think about MiFID, what is your first response? Whilst we know we should treat such legislation changes as opportunities for positive change, the everyday pressures of running a business make it difficult to put into practice.
Increased focus on smaller firms
Different costing arrangements
Under the rules of EMIR
Regulator does not want to 'incentivise short-termism”
Asset managers firming up plans
Calling for 'imaginative and creative' approach to negotiations
Part of 'remedies' suggested in Asset Management Market Study
A 'regime of remedies'