U.S. Securities and Exchange Commission grants Wall Street MiFID research reprieve

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) said on Thursday it would grant Wall Street a 30 month-grace period on complying with sweeping new European Union investment research rules.

The regulator said it has issued three so-called ‘no action relief’ letters that will allow market participants to comply with the research rules outlined under the EU’s Markets in Financial Instruments Directive II – or MiFID II – in a way that is consistent with U.S. federal securities law.

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