Financial services must be part of EU/UK trade deal, says FCA
The EU recently proposed a single trade agreement with the US, so there is no reason it cannot have one with the UK post-Brexit, according to the chief executive of the UK’s Financial Conduct Authority (FCA).
Mifid II exposes ‘charging grubiness’ of top 20 UK funds
Some of the biggest names in the UK retail funds sector are charging investors nearly double the published ongoing charges figure (OCF) for their funds, Mifid II regulations have brought to light.
Lack of commissions to extend 2017’s ETP rebound in Europe
Flows into European equity exchange traded products (ETP) rebounded in 2017, after an annus horribilis in 2016, and the trend is set to continue thanks to MiFID II’s transparency requirements in 2018, according to reports.
A market downturn sparked by Mifid?
Could Mifid II be responsible pushing markets into a downward spiral? Perhaps not, but a rule requiring managers to report any 10% fall in a portfolio to clients will do little to discourage the buy high/sell low mentality of the man on the street.
Inducement ban – Why can’t they take you out for lunch?
An outright ban on the offering or acceptance of inducements within the financial services industry will lead to out “opportunities for people to understand each other” to be missed, the Chartered Institute for Securities & Investments (CISI) has warned.