The problem with Mifid II research

Author: | Published: 11 Dec 2017

The unbundling of investment research is one area that is proving a headache for both the industry and regulators, in particular when it comes to unbundling

With just weeks to go until the new Markets in Financial Instruments Directive (Mifid II) comes into effect, the debate around this new legislation has reached fever pitch. Despite the impending deadline, there is still a lot of uncertainty, especially concerning the issue of unbundling and how investment research should be priced and paid for. There has been a range of pricing options from the sell-side in recent months, along with industry speculation on how boutique and mid-tier providers will fare against larger investment banks. On the buy-side, most asset managers have now said they will not be passing on the cost of research to clients, but this, coupled with plummeting prices, has created further ambiguity around whether low prices which provide a basis...



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