EU funds shudder at Mifid transaction reporting plan

Repeated Esma recommendations would increase costs of single portfolio management services

You wouldn’t catch a miner going down a shaft littered with dead canaries. Nor will you catch the buy side wanting to start reporting under a regime their peers are still wrestling with three years after it was implemented.

And yet, repeated recommendations by the European Union’s watchdog have pressured legislators to push buy-side firms into scope of a dreaded reporting regime set out within Europe’s markets rules.

“We have a bank within the group of Union Investment that does the

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