Draft EU rules on broker commission a setback for asset managers

April 20, 2015 1:48 PM

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LONDON, April 20 (Reuters) - Efforts by banks and asset managers to dilute planned European Union rules on paying for research on stock picks are being rebuffed by the bloc's executive, a draft EU document showed.

The European Commission is writing rules to implement an update of the EU's securities trading law known as MiFID II.

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