Browsing: Compliance

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Research Fees Update: How Predatory Is Bank Pricing?

It is not clear that investment banks’ pricing for previously bundled research would meet regulatory tests for unfair pricing, despite rapidly falling price quotes in the run-up to MiFID II ...

Integrity Research Releases MiFID II Research Unbundling Overview

Integrity Research released a detailed review of MiFID II’s research unbundling provisions and their impact on investment research including how research pricing is being transformed. One of the most controversial elements ...

MiFID II Survey Finds Asset Owner Ambivalence To Research Unbundling

A recent survey of European asset owners suggests that research unbundling is not a hot button issue for asset owners, who remain equivocal about its impact.  Nevertheless, asset owners said ...

SEC Provides MiFID II Relief — Somewhat

The U.S. Securities and Exchange Commission issued three no-action letters intended to facilitate the ability of US brokers and asset managers to comply with the research requirements of MiFID II ...

Will Research Unbundling Prove To Be A “Mifxit”?

The following is a guest article written by Fabrice Bouland, CEO and co-founder of Paris-based research portal Alphametry. Research unbundling is nearly upon us. The intense debate around its emergence ...

Cowen: US Regulators Opposed to Implementing MiFID II Research Payment Reforms

A recent note from Cowen Washington Research Group expects the US Securities and Exchange Commission to issue by early December no-action relief from regulations restricting the acceptance by US banks ...

Why I Left the Bulge Bracket Behind

The following is a guest article by Dan Sanders, who joined Olivetree Financial last month as Head of US Execution Services after a sixteen-year bulge bracket career, most recently as ...
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Why Transparent Research Pricing Will Remain Elusive

One of the regulatory goals for the research inducement provisions of MiFID II is to create more price transparency for investment research.  However, flaws in the way the rules were ...
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Research Fees Update: More Firms Give Away FICC Research

This is the second of a two-part update on research pricing, covering fees for fixed income, currencies and commodities research.  The previous installment discussed equity research pricing. More banks are ...

Caution: Shifting Research Costs To P&L Does Not Eliminate Inducement Risk

The following is a guest article from John McGough, Global Head of Business Development of Castine LLC, a provider of research procurement solutions including P&L Centre. Recently, a fair number of ...
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