After months of consultations and discussions, the general reaction to the European Commission’s proposed changes to research unbundling can be summarised in three words: is that it?
The political position of the EU means that in the long term, equivalence is likely to be at best partial and temperamental, and at worst non-existent. Financial services firms need to prepare
European market participants believe that if anything is going to change about Mifid II, it will be continental regulators’ relationship with unbundling – not the other way around
