Chris Turnbull, co-founder of independent research provider Electronic Research Interchange (ERIC), has warned asset managers will face a "shock" at the end of Q1, when they "discover they owe more for research than they anticipated", following the introduction of MiFID II at the start of 2018.
MiFID II, which came into force on 3 January, requires the cost of research to be unbundled from other services sold by brokers, in order to provide investors with a transparent breakdown of fees. The...
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