Just under a year before MiFID II regulations become law uncertainty still remains over proposals to raise funds 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 . Smaller asset managers have been keen to tone down the impact of reforms , but one boutique firm has now warned that it may be force out of business in the event that it has to begin paying for broker research separately .
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. Smaller asset managers have been keen to play down the impact of reforms, but one boutique firm has now warned that it may be force out of business in the event that it has to begin paying for broker research separately.