02.15.2019

QUICK TAKE: SEC ‘Should’ Offer MiFID II Guidance

02.15.2019

Does MiFID II matter for U.S. regulators?

While the buy- and sell-side who actively trade across the Pond are most certainly cognizant of the implications of the Markets in Financial instruments Directive II, U.S. regulators have been much more low-key in their observation of the rule or opinions on it.

So, does it matter from a regulatory standpoint? To a degree, yes. In a recent research note from ITG, the firm reported the Council of Institutional Investors (CII), SIFMA and MFS are urging the SEC to provide clarity on whether U.S. asset managers will continue to be able to pay cash for research.

Recall that in January 2018 the SEC issued a 30-month “no action” letter, allowing funds which are subject to MiFID II unbundling requirements to pay for research with hard dollars, ITG recounted. In its comment letter, MFS asserted that the current state of affairs promotes de facto cross-subsidization, with US investors effectively paying some research costs for EU investors.

“The SEC has been clear that MiFID II is not a top priority, but they will likely offer some guidance in the not-too-distant future so as not to leave asset managers scrambling towards the end of the 30-month period,” ITG wrote.

Pension funds, sovereign wealth funds, endowments and other institutional asset owners are sitting on vast troves of data -- but extracting value from that data is more challenging than ever.

#AssetOwners #DataQuality

Technology costs in asset management have grown disproportionately, but McKinsey research finds the increased spending hasn’t consistently translated into higher productivity.
#AI #Fiance

We're in the FINAL WEEK for the European Women in Finance Awards nominations – don't miss your chance to spotlight the incredible women driving change in finance!
#WomenInFinance #FinanceAwards #FinanceCommunity #EuropeanFinance @WomeninFinanceM

ICYMI: @marketsmedia sat down with EDXM CEO Tony Acuña-Rohter to discuss the launch of EDXM International’s perpetual futures platform in Singapore and what it means for institutional crypto trading.
Read the full interview: https://bit.ly/45xRUWh

Load More

Related articles

  1. The fund manager's compliant tokenization is mixed with Binance’s trading infrastructure & reach.

  2. The launch of Fidelity’s FDIT signals another step forward for tokenization.

  3. Pensions To Grow Internal Investment Teams

    This is one of the largest multi-national Outsourced Chief Investment Officer mandates awarded to date. 

  4. This bridges a gap by aligning independent certification with a regulated system for issuing credits.

  5. Regulation and Liquidity Top Concerns in Fixed income

    Bilateral liquidity has become more important in European equity trading, but access is fragmented and opaque.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] By continuing to use our services after Aug 25, 2025, you agree to these updates.

Close the CTA