Following the communications by the European Commission and the US Securities and Exchange Commission (SEC) today announcing Measures to Facilitate Cross-Border Implementation of the European Union's MiFID II's Research Provisions, Simon Lewis, Chief Executive of the Association for Financial Markets in Europe, said:

“The issuance of no-action relief by the SEC today and clarifications from the Commission are very much welcomed by the industry as it will ensure that EU firms continue to be able to access US research for 30 months from 3 January 2018.

“Thanks to a globally coordinated effort by banks, investors and other industry participants, together with authorities, a workable solution on the provision of cross-border research has been achieved, enabling market participants to continue to provide research to all types of investors. This enhances market liquidity and is also important for equity issued by small and medium enterprises (SMEs), which promotes economic growth.”

– Ends –