ESMA's requirement for wealth managers to name clients using their passports under MiFID II is an "illogical" duplication of existing UK identification requirements, according to Andy Thompson, director of operational policy and research at the Wealth Management Association (WMA).
The requirement was proposed in a consultation paper on transaction reporting released by the European Securities and Markets Authority (ESMA) in December last year. It requires each client's first name...
Partner Insight: In this environment, a well-resourced credit research team is essential and having traders to keep check on markets is very helpful too, according to Fidelity fixed income managers Sajiv Vaid, Peter Khan and Kris Atkinson
Impact of political turmoil and Brexit
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In recent weeks, investors have fixated on the inversion of several sovereign yield curves, most notably the US Treasury curve.
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