Firms Say Regulation Pushes Client Data Up the Agenda
LONDON-Detailed counterparty data is key for firms to stay in line with Europe's Markets in Financial Instruments Directive (MiFID), meaning there could be a move away from free advice, according to speakers at a BT and BearingPoint MiFID seminar in London.
The market, particularly for retail and private banking, could start charging for advice as a result of increased requirements regarding the advice process and the collection of client data, combined with less options for funding free advice
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