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LONDON, September 28, 2023 Following the expiration of the U.S. Securities and Exchange Commission’s (SEC) No Action Letter relating to research payments on July 3, 2023, Northern Trust (Nasdaq: NTRS) is working to find solutions for MiFID II managers facing potential difficulties paying US bank research providers. ....
New cost model floated to ensure longevity of manager ESG efforts ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.
French groups agree sponsored research charter in post-MIFID II move ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.
Three years on from the onset of MiFID II, market participants, governments and regulators are assessing its outcomes and considering adjustments. MiFID II has led European managers to fund sell-side research from their own P&L, lowering transparency on research spend The SEC will not adopt the European style of research spending This has led to funding gaps between European and US asset owners with US managers potentially at an advantage Overall, well-intentioned attempts to introduce transparency into the investment research value chain may be resulting in unintended consequences that work against the long-term interests of asset owners such as pension funds. ....