MiFID II costs seen putting off would-be asset management start ups
The EU's MiFID II regulation went into effect from the beginning of this year. The legislation tightens requirements for the asset management business within the EU, but is it good or bad thing for independent asset managers?
New Year's Day 2017 heralded a relaxation of the capital adequacy and solvency requirements for investment service companies. After that, the firms were required to hold a minimum of EUR 125,000 in liquidity in order to do business — down from the previous demand for EUR 300,000.
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