MiFID II: The Phoney War

Regulators have been told to go easy of MiFID II implementation for the time being. That’s why there’s been little coverage of the impact from this measure since its introduction. Analogies have drawn with the Phoney War period from September 1939 to May 1940.

But the costs of MiFID II are staggering. Total costs across the EU are put at £2.2 billion. Asset managers face many new regulations for the first time under MiFID II, including rules on research and a raft of measures on reporting and investor protection. No longer will asset managers be able to combine trading and research costs. It is supposed to bring more transparency to financial transactions, particularly with regard to research.

To read more on this story see the April issue of The NED.

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