Smaller fund firms have been left in limbo as delays in finalising dealing commission regulations leave them unsure of the future of their businesses. Last Friday (3 July) marked one year until MiFID II regulations are transposed into law, but uncertainty continues to surround proposals to separate charges for trading shares from the cost of broker research....
Just under a year before MiFID II regulations become law uncertainty still remains over proposals to split charges for trading from the cost of broker research. The European Securities and Markets Authority (ESMA) has missed a deadline to release more draft technical standards on this and other issues, further guidance not expected until September. In addition, there is no clear plan yet as to how much capital will be required by banks in order to comply with new rules that require them to hold at least 10% of their assets off-balance