“This is like sending the dog into your neighbour’s yard!”
When Euromoney sat down with one US capital markets specialist in New York last month, his views on the EU’s Markets in Financial Instruments Directive (Mifid) II’s impact on research provision were unequivocal.
US research providers have long railed against Mifid II’s unbundling requirements, which could force them to register as investment advisers under the Investment Advisers Act of 1940 in order to continue providing research to clients in Europe.
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