U.S. Securities and Exchange Commissioner Hester Peirce delivers a speech before the members of the American Chamber of Commerce in Japan in Tokyo, Japan August 7, 2019. REUTERS/Hideyuki Sano
The SEC had given U.S. brokers until the middle of next year to comply with MiFID II, due to a quirk in the U.S. federal securities law that bars U.S. firms from complying with the EU rules, which took effect in January 2018. “MiFID II has been quite a big issue. We did give temporary relief and I think what we’re going to end up doing is probably extending that relief because we’re trying to come up with a permanent solution, but it’s not that easy,” Peirce told members of the American Chamber of Commerce in Japan.
'The European rules aim to eliminate conflicts of interest by giving investors greater transparency over how much they pay banks for discrete services' 'SEC may give firms/CEO's more time to rip off investors.' Fixed it for you.
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