UK Looks To Overhaul MiFID Research Rules For Small Firms
Law360, London (April 29, 2021, 1:22 PM BST) -- Britain's financial watchdog has proposed that smaller companies should get exemptions from European Union trading rules that force asset managers to ensure their investment research costs are transparent, as the U.K. forges a path after Brexit.
The Financial Conduct Authority set out proposals in a consultation paper on Wednesday to scrap so-called unbundling rules for research into small and midsized enterprises. The EU's updates to the Markets in Financial Instruments, or MiFID II, introduced in 2018, force investment managers and pension funds to separate the price of investment research from the overall cost of executing trades.
But the City watchdog said that...
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