Banks hope for Mifid reprieve on fixed-income research

Intervention by France, Germany and the UK could bring about "more considerate treatment"

HM Treasury: authorities objected to Mifid research "ban"

European legislators are expected to take a softer line on the unbundling of fixed-income research after France, Germany and the UK joined industry critics in calling for change. If asset managers were forced to pay separately for research – the cost of which is currently recouped indirectly via trading commissions and spreads – smaller firms claim they would have less information and would find it harder to understand and manage their risks. Supporters of the move say it would encourage