Macquarie axes analysts amid MiFID II shake-up

'Handful' of job losses

Mike Sheen
clock • 2 min read

Australian banking group Macquarie has cut the number of analysts it employs within its European division in response to MiFID II requirements forcing investors to pay for reports and analyst reports.

The move will see Macquarie reform its research coverage of around six key sector as a "handful" of analysts depart the firm, according to the Financial Times. MiFID II, which came into force on 3 January, forces firms to unbundle the cost of broker research from other services, preventing the previously established practice of paying for research implicitly through trading commissions and business with the broker. MiFID II blog: All the latest news and analysis as industry adapts to new regulations The regulation has seen fund managers cut the number of research providers they use...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Regulation

A review of the senior managers regime is also on the table, which would lead to an evolution in the regulations rather than an overhaul. | Credit: iStock

UK to boost bank resolution toolkit after SVB collapse shortcomings - reports

City minister Bim Afolami

Cristian Angeloni
clock 08 December 2023 • 1 min read
The FCA noted that the proposals were high-level at this stage, not definitive and reflected early thinking. The regulator said they would evolve based on stakeholder feedback and further engagement.

FCA plans 'new form of simplified advice' in extensive review

Three proposals set as part of major review

Isabel Baxter
clock 08 December 2023 • 6 min read
The NAO highlighted that, although the FCA had required crypto firms to comply with anti-money laundering regulations in January 2020, the regulator did not take any enforcement action against illegal crypto operators until February 2023.

National Audit Office finds 'significant delay' in FCA regulatory action

Financial services report

Cristian Angeloni
clock 08 December 2023 • 3 min read