Week InReview: October 20, 2017

Things that make you say hmmm... Under European regulations, banks are required to charge explicit prices for research. U.S. regulations will also allow them to charge those prices. However, brokers claim an SEC technicality requires them to register with the agency as an investment adviser in order to sell stand-alone analysis, thus subjecting them to a much stricter level of oversight. "The moves may disappoint investor advocates and some officials at U.S. pension funds because they've been urging the SEC to to go even further. They want the regulator to allow what's happening in Europe to also happen in the U.S. -- a system where investors can easily buy research from one brokerage, while paying another to execute trades." Wall Street Is Said Poised to Get Key SEC Reprieve on MiFID

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