MiFID Myth Is That Rules Will Benefit Savers, Money Managers Say
- Latest gripe is to expect more confusion rather than clarity
- New regulations are due to come into force on Jan. 3
Banks Are Scrambling to Comply With New EU Rules
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The biggest shakeup in financial services in a decade has drawn complaints from bankers and money managers over excessive regulation, compliance costs and risks to their businesses and jobs.
But their latest beef is that the new rules coming into force on Jan. 3 might confuse the very savers they’re meant to benefit.