US banks and brokers are asking the US Securities and Exchange Commission whether it can extend temporary relief granted from new European rules on payment for analyst research, a Goldman Sachs lawyer said.
The SEC’s 30-month relief from the EU’s revised Markets in Financial Instruments Directive kicked in Jan. 3, 2018, when the European rules went into effect.
“Neither the SEC nor industry has any desire to wait until the end of 30 months,” Pamela Torres, Goldman’s general counsel of global investment research, told an industry conference last week.* "Industry has already engaged and started to have discussions."
US brokers ask SEC to extend temporary relief from EU analyst research rules
1 June 2018 6:31pm