Browsing: Commissions

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Why US Firms Are Not Concerned About Research Cross-Subsidization

10/26/2016
One area where new MiFID II research unbundling regulation conflicts with US regulatory practice (besides the ability to use bundled commissions) is the potential for some asset management clients to ...

CRISIL Says Research Unbundling Will Squeeze Asset Manager Profits By 17% To 29%

10/19/2016
Outsourcing provider CRISIL Global Research and Analytics made dire predictions of the impact of MiFID II’s unbundling provisions on the profitability of European and US asset managers, arguing that operating ...
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Are UK Regulators Still Trying to Ban Paying For Research With Client Commissions?

10/18/2016
Is the UK regulator trying to gold plate MiFID II unbundling provisions?  Will UK asset managers be forced to pay for research from their own pockets because the UK Financial ...
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We Hold These MiFID II Truths To Be Self-Evident?

10/11/2016
There are certain MiFID II truths considered self-evident: spending on research will decline, research coverage will shrink, and mid-tier brokers will suffer most. A whitepaper promoted by Edison Group, a ...
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UK Regulators Offer Moderate Interpretation Of MiFID II Unbundling

09/30/2016
The UK Financial Conduct Authority (FCA) released its long-awaited consultation paper on MiFID II [discussion begins on page 24 and draft language begins on page 263]. If industry participants expected ...
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Will Research Spending Be Slammed $5 Billion By MiFID II? Probably Not.

09/22/2016
How much will asset managers cut their research spending after new European unbundling rules go into effect?  A Financial Times article puts the amount at $5 billion.  We suspect the ...
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French Regulators to UK Regulators: Your Mother Was A Hamster

09/14/2016
This the second and final installment of a two-part examination of the French regulatory interpretation of new European rules unbundling research payments from execution. In the previous article we discussed ...
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French Regulators Go Easy On MiFID II Interpretation

09/13/2016
This the first of a two-part examination of the French regulatory interpretation of new European rules unbundling research  payments from execution. L’Autorité des Marchés Financiers (AMF) released its consultation paper interpreting ...
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IOSCO Releases Global Best Practices For Soft Dollars

08/29/2016
The International Organization of Securities Commissions (IOSCO), the international organization of financial market regulators from over 115 jurisdictions regulating over 95% of the world’s financial markets, has published a report ...
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UK Asset Managers Release Document Outlining MiFID II Implementation Issues, Part 2

08/26/2016
This is the second and concluding article of a two-part analysis of a recent asset management white paper discussing implementation issues with MiFID II. To view the first article click ...
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