The Financial Conduct Authority (FCA) proposed changes to the MiFID II reporting rules could see asset managers save up to £6.7m in compliance costs a year, research suggests.
Asset managers in the UK are set for a softening of the MiFID II ban on using dealing commissions to fund research ahead of EU counterparts with fixed income research the most likely beneficiary, according to a report by Bloomberg Intelligence. The regulator has proposed allowing exemptions to the ban on using commissions to fund research for fixed income, currencies and commodities, as well as companies with a market capitalisation of less than £200m. Bloomberg Intelligence estimates asset managers in the UK could save up to £6.7m in compliance costs a year, with research costs inclu...
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