Analyst notes in the balance

The EU’s upcoming MiFID II rules brokerages and banks firms must soon start charging for research — and that may include the morning musings of analysts and strategists.

The authors risk having to either charge for the notes, restrict their circulation or render them anodyne.

“MiFID II does allow for what are called minor non-monetary benefits, but this only includes a few, very basic types of informational research,” said Hannah Meakin, a financial-services partner in London at law firm Norton Rose Fulbright.