The US Securities and Exchange Commission has granted a three-year extension to the MiFID II relief period for American firms.
The SEC will allow US brokers to continue bundling execution and research payments for another three years. In October of 2017, the SEC published a ‘no-action letter’, stating that American firms did not need to actively adhere to MiFID II’s unbundling guidelines. This letter was due to expire in July 2020. This latest statement by…