|EU market participants are hoping
change is on the horizon
In the last few months, market participants –
rather unusually – have talked about their concerns
surrounding upcoming regulation. What many view as a lack of
consideration on the part of regulators is causing problems -
especially when it comes to data.
First came the General Data Protection Regulation (GDPR),
then the news that the US' Securities and Exchange Commission
(SEC) is blocking non-US investors from registering as
investment advisors due to data-related concerns. This is
heightening fund managers' fears about the regulation, which
some feel is incompatible with Mifid II.
Restrictions on personal data transfers outside of the EU
have led the SEC to conclude that investment advisors may not
be able to provide necessary information about certain
individuals associated with EU investment advisors. EU firms
still have to comply with all applicable US regulations
– but the concern is...