MIFID II, which comes into effect in January 2018, is much more than a compliance exercise says Connor Sloman, and firms are already evolving their business models to respond to resulting trends
The European Union's revised Markets in Financial Instruments Directive (MiFID II) comes into effect this time next year. Described as a single rule book for financial institutions in Europe after an era characterised by conflicts of interest, the directive aims to increase investor protection, transparency, product standardisation and financial market stability. For asset managers, MIFID II is driving further focus on costs and transparency. Its unbundling of payments for investment research, for example, will prohibit asset managers from receiving research as a ‘free' added-value servi...
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