According to a note to clients, Morgan Stanley believes that UBS, HSBC and Société Générale should perform well during the quarter. Compared with the US Banks, they have a downward risk due to investment banking fees and upside due to the outlook for equities.
Against a backdrop of unstoppable digitalisation, one of the objectives for the banks at the moment is to find a balance between their physical branches and this new digital approximation which clients want.
BME announced yesterday that it will adapt its fixed income market so that intermediaries can transfer all their operations to the regulated market and comply with the new transparency and reporting requirements of MiFID II.
The European Financial industry is clearly suffering when trying to meet the constraints imposed by the new transparency European regulation a few weeks before the gong (January 2018).
After MIFID1, which was launched 10 years ago with the aim of improving investor protection, MIFID2 (Markets in Financial Instruments Directive) is now on its way, bringing even more meticulous and demanding operating objectives and rules.
Fernando Rodríguez | The MifidII obliges the 100,000 professionals who inform and advise on finances in Spain to be accredited as being technically qualified to do this job by January 2018. Spain is the only country in Europe which doesn’t have any regulation in place regarding professional qualifications.
Spain’s bancarisation is making life difficult for its independent financial advisers (Empresas de Asesoramiento Financiero Independiente or EAFIs), while excessive regulation is also clipping their wings.
LONDON | PAVE Platform on Wednesday announced the suspension of its plans for an ultra-fast marketplace focusing on Spanish, Portuguese and Latin American listed equities and ETFs. The Spanish equity market is one of the few major markets in Europe where deregulation and increased competition have yet to arrive and the Barcelona-based project’s aim was to bring in competition. The lack of capital resources, though, has forced it to admit defeat,…