A recent post on IRMagazine.com discussed how, as a result of Mifid II, “US small caps said to eye paid-for research.” “The impact of the regulation on our shores has been difficult to predict and remains somewhat uncertain,” Peter Sidoti, CEO at Sidoti & Company, tells IR Magazine. “For example, we are getting more inquiries about our company-sponsored research product
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Yesterday, LD Micro published the agenda for the 10th annual LD Micro Main Event. There will be 5 tracks of company presentations and over 200 presenting companies (mostly microcap issuers). There will also be a number of great panel discussions; – MiFID II: The Impact on Research Coverage for Microcap Issuers – Shareholder Activism: What Issuers Need to Understand to
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Many critics of MiFID II continue to highlight its potentially negative impact on smaller issuers. The big concern is that banks will choose to limit or eliminate coverage of smaller, less followed companies. A recent Bloomberg article echoed these concerns saying; “Liquidity may wane among small- and medium-sized companies as banks scale back their research services in response to MiFID
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On October 26, the SEC issued three no-action letters regarding the European Union’s Markets in Financial Instruments Directive (MiFID II). On October 31, the National Investor Relations Institute (NIRI) shared a letter thanking the SEC for the no-action letters and urging the SEC to promote coverage of small public companies. The letter highlights a decrease in research coverage of smaller companies
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Last week, following consultation with European authorities, and in response to concerns that investors could lose access to valuable research, the staff of the U.S. Securities and Exchange Commission issued three related no-action letters. These letters are designed to provide market participants with greater certainty regarding their U.S. regulated activities as they engage in efforts to comply with the European
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