U.K. Plans to Outdo Neighbors on MiFID While Heading to EU Exit
- FCA issues tough proposals on the uses of investment research
- Ashurst’s Cant says FCA plan amounts to gold-plating EU rules
This article is for subscribers only.
The U.K. is planning to surpass its neighbors in imposing tough new rules on investment research, even as the country heads for the European exit.
The Financial Conduct Authority proposed stricter rules for how brokers can woo investment firms with research and other inducements as the U.K. gears up to implement the European Union’s sweeping market-rule overhaul known as MiFID II. Keeping British rules close to those in the EU may prove crucial if U.K.-based banks are to retain access to the single market.