At the ACIIA Forum held in Luzern on 27 June 2018, Dr. Jesús López Zaballos, EFFAS Chairman and a member of ACIIA Council, made a presentation regarding the impact of MiFID II on investment professionals in Europe.
While MiFID II focuses more on the competence of investment advisors/information providers and “unbundling” fees paid by asset managers to brokers by separating research costs and execution costs, the role of financial analysts and their financial analyses are still very important in the process of providing investment advice: This point of view is not addressed in MiFID II. Dr. Zaballos remarked that ESMA should consider the minimum knowledge and competence to be required of financial analysts by regulators.
The presentation handout prepared by IEAF Spain, a member society of ACIIA and EFFAS, for the ACIIA Forum discusses relevant arguments in this regard.
Access the presentation handout HERE