Date: 5th October 2016
Author:
Type: In the news
After the latest revision of MiFID 2 failed to include a total ban on inducements but instead seeks to ban any “remuneration, discount or non-monetary benefits” for routing orders, while the requirement to take all “reasonable” steps to get the best deal for clients has been changed to “necessary”, what remains is the question how to regain the trust of financial services users? Although disappointed that a total ban on inducements could not have been achieved, EuroFinuse sees the new text as a positive development in the right direction as firms will be required to "provide clients with data on the top five trading venues on which they executed trades".
Read the whole article here. (Source: e-financial times).