SEC grants welcome reprieve to US sell-side firms on MiFID II research rules

EU-US clash

Mike Sheen
MiFID II clash

MiFID II clash

US regulator the Securities and Exchange Commission (SEC) confirmed today it would be granting broker-dealers temporary "no action relief" from a regulatory clash with Europe's MiFID II regulations, calming industry fears that UK investment firms could be cut off from US research when the legislation comes into force in January 2018.

Global regulators have been slow to provide answers as to how firms will access research from countries where the sale of research is prohibited, such as the US, when the European legislation specifically...

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