The FT says European banks are grappling with new legislation "Mifid II" legislation

  • Its effect means only fund managers paying banks specifically for research can access it
  • Previously, banks and brokers would "bundle" research with the fee they charge asset managers for executing trades
  • some predict that UK "sellside" analyst numbers could halve by the end of the year

Here is the link to the Financial Times piece, may be gated: