Looming Research Rule Catches Managers Off Guard (FundFire)
/IMP's Jane Stabile was quoted in a FundFire article about how asset mangers are searching for new ways to buy research before the MiFID II directive takes effect in January, 2018. Read an excerpt from the article:
The impacts of MiFID II are hitting U.S. managers unexpectedly, according to Jane Stabile, president of IMP Consulting speaking on a June webinar addressing its impact on U.S. investment shops.
"Soft dollaring is going to take a big hit – there’s no free lunch [anymore]," she said. "U.S. managers providing subadvisory [services] with no physical presence in Europe, you could be [hit] if you are subadvisor to a firm whose clients are in the E.U."
This includes U.S. firms with just one European client, she said, in response to a question from a U.S. registered investment advisor firm with a single E.U. institutional client.
"Unfortunately, yes, it does apply to that one E.U. client," she said.
