Australian banking group Macquarie has cut the number of analysts it employs within its European division in response to MiFID II requirements forcing investors to pay for reports and analyst reports.
The move will see Macquarie reform its research coverage of around six key sector as a "handful" of analysts depart the firm, according to the Financial Times. MiFID II, which came into force on 3 January, forces firms to unbundle the cost of broker research from other services, preventing the previously established practice of paying for research implicitly through trading commissions and business with the broker. MiFID II blog: All the latest news and analysis as industry adapts to new regulations The regulation has seen fund managers cut the number of research providers they use...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
