Focus on MiFID II and fund managers

The EU’s Markets in Financial Instruments Directive (MiFID II) will radically change the way that its securities and derivatives markets are regulated. While the impact of the 148-page document will affect every nook and cranny of financial markets, one of the most significant impacts will be on investment managers.

Phil Thornton looked at the challenges that fund managers and their advisers faced in two article for the magazine and website of the Chartered Institute of Securities and Investment.

The first looked at one of the most important issues – the need for sell-side companies to separate charges for execution from charges for access to research. Phil spoke with a number of fund managers and advisers to get an idea of how prepared they would be for MiFID II. The good news was that it showed that more than 60% have already set, or begun to set, their research budgets, and are making decisions on which payment methods to use. The article is here.

The second identified the sizkey themes that financial participants need to bear in mind: governance; advice; trading and execution; fees and inducements; corporate governance; and trsnaparency. The article is here.

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Highlighting research impact at the LSE

Working as a freelance consultant, I helped to generate content for the London School of Economics’ research impact website, including writing summaries of the impact of various academics in areas including macroeconomic policy, regulation of markets, education impacts and public policy impacts.

The full range of almost 70 impact studies of which I was involved in around 20 can be found here: http://www.lse.ac.uk/researchAndExpertise/researchImpact/Home.aspx