Investment Banks Win Research Rule Concessions From EU
- MiFID II research rules approved by European Commission
- Ban on inducements will allow free-of-charge market commentary
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Banks and brokers will be able to continue to offer market commentary without charging a separate fee, winning a concession from European regulators seeking to break apart the traditional model for distributing research.
Under rules adopted Thursday, the European Commission will allow quick-turn analysis to be paid for indirectly through trading commissions or the spread on fixed-income trades, which are the traditional practices. For more detailed and proprietary research “capable of adding value,” banks may be required to charge separately.