Two thirds of firms unlikely to meet MiFID II deadline

The firm surveyed 183 senior financial services professionals, including compliance professionals and investment managers, across Europe, US and Asia. It found that 89% of managers, brokers and banks foresee increasing costs due to regulation, with many suggesting compliance spend could more than double in the next five years. Currently, respondents said they are typically spending 4% of total revenue on compliance, but this could more than double to 10% by 2022. Kirsty Adamson: How are advisers adapting to a changing environment? As many firms have already reported struggling w...