Wall Street banks were at impasse

Wall Street banks were at an impasse because of the toll analytics

Wall Street banks, may not be able to sell its US analysts European investmenedzheram because of inconsistencies in the regulatory requirements of the two regions, to overcome which is unlikely before the January deadline.

In the European Union from January 3, shall enter into force on the directive MiFID II, requires banks to charge for the analyst apart from the fees for brokerage services. The new rule is at odds with US regulations that prohibit banks are not registered as investment consultants, use similar tactics. This status does not appeal to American banks, as imposes on them fiduciary obligations to clients and limits the opportunities for trading, according to two sources familiar with the matter, who asked for anonymity because of the confidentiality of information.

See also: Banks and Clients play someone who paid eve analysts

• US banks are worried that the Securities and Exchange Commission, even as an exception, will not allow them to charge for analytics in Europe, says top manager one of the credit institutions and legal experts, who asked not to be identified in the absence of further guidance from the regulators
• Representatives of Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase Co. and Morgan Stanley declined to comment

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