Investment firms are worried about jumping from the frying pan into the fire if a new prudential framework for non-banks, currently proposed by European Union regulators, is put in place.
One of the quirks of existing EU capital requirements for banks is that they will be applied to any firms regulated under the second Markets in Financial Instruments Directive (Mifid II) once it goes live in January 2018. The European Banking Authority (EBA) is engineering a completely new alternative
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