Challenges to cross-border financial services can be overcome with the developments in digitalisation and in the fintech sector. In particular, we believe the financial services industry will increasingly use so-called “robo-advisers.”
The US Labor Department has released its final fiduciary rules for retirement advice. While the rules steadfastly maintain their requirement for a best-interests contract for most arrangements between investors and nonfiduciary advisers, the federal agency relented on a number of troublesome implementation matters.
Whether the changes will be cosmetic or profoundly far-reaching will depend on the ambitiousness of the policy-makers in the European Commission, Parliament, and the Council (representing EU Member States).
Dennis Dick, CFA: “Circuit breakers and warning systems for stop or market orders are mere band-aids for potentially larger underlying market structural issues ...."
Report reveals 36 barriers to the development of a truly pan-European CMU; findings complement CFA Institute member survey results.
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