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SEC announces relief related to certain conditions of the EU’s MiFID II’s research provisions

  • SEC (US Securities and Exchange Commission) Image

Oct 26, 2017

The SEC has announced that it will provide temporary no-action relief for market participants that are complying with the research requirements of the EU’s Markets in Financial Instruments Directive (MiFID II).

The relief includes the following: “(1) broker-dealers, on a temporary basis, may receive research payments from money managers in hard dollars or from advisory clients’ research payment accounts; (2) money managers may continue to aggregate orders for mutual funds and other clients; and (3) money managers may continue to rely on an existing safe harbor when paying broker-dealers for research and brokerage.” The SEC staff will monitor business implementation of the MiFID II during the temporary relief period and determine whether additional steps are needed.

For more information, see the press release on the SEC’s Web site.


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