What Mifid II's research overhaul means for the buyside

Author: | Published: 23 Feb 2017

Mifid II will change the research landscape. Fund managers must consider how investment research should be priced as well as alternative data sources

2018 will usher in significant changes as to how research is provided and consumed across the European Union. The revised markets in financial instruments directive (Mifid II) will prohibit EU managers and EU independent advisers from receiving any third-party inducements (with the exception of minor non-monetary benefits). Managers and advisers will instead have to pay for investment research out of their own pockets or set up research payment accounts (RPAs) that are funded by their clients and from which research is subsequently paid.

Whilst there has already been much discussion regarding the complications arising from the use of RPAs and the possible decline in total research available should a portion of the sell-side decide to cease providing research altogether, stakeholders need to consider the value proposition for...



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