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Wall Street brokers handed extra relief on Mifid II research rules

SEC gives brokers an extra three years to adapt their business models to European trading rules

Wall Street brokers handed extra relief on Mifid II research rules
Photo: Getty Images

A US regulator has given Wall Street’s brokers an extra three years to adapt their business models to European trading rules without facing legal action at home.

The Securities and Exchange Commission told brokers they will be able to continue charging European fund manager clients separately for research until mid-2023, without having to take on the burden and cost of registering as investment advisers.

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