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EU's Market Rules Revamp May Be Slower Than Traders Fear 

May 25, 2017

Silla Brush and Alexander Weber, Bloomberg

The “big bang” the financial industry feared when the European Union’s overhaul of financial-trading rules takes effect in January may turn out to be more of a soft launch.

The EU’s MiFID II market rules hit firms with a compliance ordeal that may ring up more than $2 billion in costs, and restrict everything from fund managers’ research budgets to high-speed trading and dealing in wheat and oil. But regulators have been quietly building in extra time to help the industry adjust to some of the law’s provisions. Norway is even considering the consequences of a broader delay.

The last-minute changes show that nearly a decade after the financial crisis, the industry and even regulators are still struggling to come to terms with the rules, which are intended to protect investors and make markets more transparent.

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