Compliance and Regulatory Consulting
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Nick Bayley, Managing Director in the Compliance and Regulatory Consulting practice at Duff & Phelps, spoke to City A.M to discuss the Association of German Banks' concerns over MiFID II. Germany's private banking body suggested that the EU legislation would cost German Banks' €1bn and lead to an 'information overload' for bank customers.
“There are, I agree, several new requirements in Mifid II for firms to provide periodic information to their customers,” Bayley said. “In some cases these requirements can be a bit burdensome for banks, but there’s nothing in there that you would say is unreasonable.”
The full article is available on the City A.M website.