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SEC staff extends temporary measure related to cross-border implementation of the European Union’s MiFID II research provisions

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Nov 05, 2019

The staff of the SEC’s Division of Investment Management has announced that it has extended the expiration date — from July 3, 2020, to July 3, 2023 — of a temporary no-action letter related to complying with research provisions of the European Union’s Markets in Financial Instruments Directive II (MiFID II).

The staff notes that before this expiration date, the SEC staff would “not recommend enforcement action to the Commission under the Investment Advisers Act of 1940 against broker-dealers receiving payments in hard dollars or through research payments from clients subject to MiFID II.”

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

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