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MC : The impact of MiFID II on research is still very unclear , the two main issues we will look for in the final rules are whether fixed income research must be unbundled and how Research Payment Accounts will differ from Commission Sharing Agreements .
The best execution requirement under MiFID II clearly increases the burden of proof for asset managers to demonstrate they are serving their clients in the best possible way , by demanding they state their policy , monitor execution performance , and report to clients regularly .
The new transaction reporting regime is significantly greater in scope and complexity , and it seems unlikely asset managers will be able to delegate reporting . As the reports will need to contain personal data relating to individuals , there are also
EXPERT PANEL
CK = Carsten Kunkel , head of Global Regulatory Center of Excellence , SimCorp
GK = Giles Kenwright , head of investment banking regulatory practice , Delta Capita
MC = Mark Croxon , regulatory and market structure strategist , Bloomberg
RA = Ralph Achkar , director of capital markets , Colt
BM = Brijesh Malkan , corporate development director , BCA Research
www . thetradenews . com THE TRADE MiFID II HANDBOOK | 61