Discretionary fund managers (DFMs), advisers and investment platforms are facing renewed pressure to draw up new contractual agreements and finalise the details of how they will work together to implement the "challenging" MiFID II '10% rule', in time to meet the implementation deadline of 3 January 2018.
The legislation requires firms providing portfolio management services to inform clients by the end of the working day when the value of their portfolio declines by 10% or more during a reporting period,...
Songs from writers Johntá Austin, Sean Garrett and Rico Love
Analysts in bullish mood
Uncertainty has resulted in 2% less growth
Expected to complete in Q2