Investment sector eyes key areas for 'MiFID III' overhaul

Years of preparation for MiFID II, which came into force on 3 January, have not guarded firms against difficulties in its implementation, with areas of contention including fund transaction cost calculations, research acquisition rules and client call recording. MEP Kay Swinburne, who was a key UK representative in the formation and introduction of MiFID II, was likely the first high-profile figure to discuss the idea of "MiFID III" last year, saying concessions had been made in legislating for MiFID II and a third iteration of the directive would be used to rectify concerns. Jon Dean...