Asset managers will face a "shock" at the end of Q1, when they "discover they owe more for research than they anticipated", following the introduction of MiFID II at the start of 2018, Chris Turnbull, co-founder of independent research provider Electronic Research Interchange (ERIC), has warned.
MiFID II, which came into force on 3 January, requires the cost of research to be unbundled from other services sold by brokers, in order to provide investors with a transparent breakdown of fees. The...
More than 4,500 retail investors affected
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Winning back consumer confidence
Taxation of loyalty bonuses
Shares down more than 50%