Browsing: Soft Dollars


SEC: MiFID II Is Not Our Problem

It is an article of faith among MiFID II proponents that research unbundling will be adopted globally.  Those naïfs don’t have to contend with the US Securities and Exchange Commission, ...
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Blackrock Already Did What MiFID II Wants

Blackrock cut the research spending of one of its largest actively managed fund by over $15 million in 2015, according to a Reuters analysis.  We understand that the savings was ...
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New MiFID II Guidance Favors Hardline UK Interpretations

In its latest Q&A relating to research inducements released Tuesday, the European Securities and Market Authority (ESMA) opined on some of the most controversial aspects of MiFID II’s new regulations ...

UK Asset Managers Propose Guidelines For Research Cost Disclosure

The UK trade association for asset managers has proposed an industry code to standardize the disclosure of money management fees and transaction costs, including research costs mandated under MiFID II.  ...

Schroders Will Not Pay For Research From P&L

In its recent earnings release, Schroders PLC, one of the UK’s largest asset managers, announced that it will be funding research payments alongside commissions under forthcoming MiFID II regulation. Peter ...
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French Asset Managers Anticipate Significant P&L Payments For Research

Nearly a fifth of French asset managers are considering paying for research from their own P&L, according to a recent survey conducted by ITG, independent research provider AlphaValue and consultancy ...

Greenwich: Hard Dollar Payments For Research Unlikely Over Next 12 Months

Only 10% of US asset managers and 12% of European asset managers expect to pay for research from their own P&L in the next year, according to a new Greenwich ...
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FCA Issues Research Unbundling Warning to Asset Management Industry

The UK's Financial Conduct Authority issued a news release titled “Firms continue to fail to meet our expectations on their use of dealing commission,” which seems intended to prod asset ...
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US Brokers Petition SEC on Problem of Paying Cash for US Research

Reflecting a new sense of urgency, the Securities Industry and Financial Markets Association (SIFMA), a trade organization for the US securities industry, submitted a letter to the SEC outlining a ...
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French Regulators Issue Final Commentary On MiFID II Research Unbundling

French regulators continued their campaign to isolate and displace UK regulators as the arbiters of European financial regulation by releasing commentary on the industry responses to its consultation paper on ...
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