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Unbundling investment research under MiFID II: How to balance price, allocation and quality

Economic and Financial Affairs
 Registration Closed
Date: Wednesday, 17 January 2018 13:00 - 14:30

Venue: CEPS Conference Room  |  City: Brussel, Belgium

MiFID II (coming into effect on 3 January 2018) is set to disrupt the production and distribution of investment research, impact execution services and ultimately the costs for investment firms and end-investors. Brokers will have to establish a price for investment research separately from execution services. Asset management firms will have to develop research budgets for all asset classes, and either pass the costs of research on to clients or absorb the costs themselves. Nonetheless, this will also lead to new opportunities for investors to better compare price and quality across products and service levels.

  • What are the major challenges that firms face in complying with research unbundling (e.g. budgeting – P&L or RPA, allocation, valuation, payment)?
  • Will smaller or larger firms be affected the most by the new rules? What would be the approach from an operational standpoint (national, European, global)?
  • What would be the impact of research unbundling on profitability, liquidity and quality? Are the claims about the potential reduction in the coverage of SMEs warranted? 

Registration is free of charge for ECMI/CEPS members, EU/national officials, full-time academics, PhD students (subject to available seats), NGOs (not representing industry sectors or a commercial interest) and press Other participants may be admitted for €175 (VAT included, payable in advance or at the registration desk). A sandwich lunch will be served before the event (starting at 12h30).




Congresplaats 1
1000 Brussel, Belgium




All Dates

  • Wednesday, 17 January 2018 13:00 - 14:30

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