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...
The chairman discusses his surprise holiday job
Three months on
Regulator has stepped in
More than £70m spent on project