Investment Association welcomes measures to facilitate cross-border implementation of the MiFID II research provisions
26 October 2017
IA's Chris Cummings, said that the association had been at the forefront of industry engagement to resolve the issue of cross border research costs, ensuring that a regulatory solution has been found ahead of the 3 January 2018 deadline.
Following the announcements on measures to facilitate cross-border implementation of the MiFID II research provisions, Chris Cummings said: “The Investment Association welcomes today’s announcements by the FCA, SEC and European Commission which will facilitate the cross border implementation of MiFID II research provisions. This is a successful outcome and one that demonstrates the ongoing strong engagement between industry and regulators on both sides of the Atlantic. The SEC has issued three related no-action letters addressing different aspects of the US regime. In parallel, the Commission has issued an FAQ on MiFID II interaction with third country broker-dealers. We will now review the details, but it is clear that this package of measures addresses a key outstanding challenge for our industry with regard to the implementation of MiFID II.”
Full press release
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