Macquarie Group Lays Off European Research Analysts in Response to MiFID II

[kreslik.news]

Macquarie Group announced on Monday that it would be laying off a number of its European division employees. The Australian investment bank said the move was in response to parts of the European Union’s Markets in Financial Instruments Directive (MiFID II) regulations that target equity research.

MiFID II, which went live on January 3rd 2018, is touted by the EU as providing transparency and protection to investors – retail or institutional. Prior to the regulation going live, fund managers would usually attach any research costs to their commission or fees.

This will no longer be possible as MiFID II means ... (read more)