Wall Street Gets 3-Year Reprieve on MiFID Compliance From SEC

The video discusses the FCC's decision to delay the implementation of MiFID, a European regulation affecting Wall Street, by three years. MiFID requires brokerage firms to separate trading and research costs, conflicting with US SEC rules. The SEC's regulations classify firms selling research separately as investment advisors, which is undesirable for brokers. The video highlights the complexity of aligning US and European regulations and the challenges faced by the SEC in finding a solution.

What is the significance of the MiFID rule for Wall Street?

How do the SEC rules conflict with European regulations?

What implications does the SEC's requirement for research registration have for brokers?

Why do brokers prefer not to be classified as investment advisors under SEC rules?

What challenges does the SEC face in reconciling its rules with European regulations?