European Union (EU)

European Union financial regulations shake up investment research

Stock traders
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The combination of increased appetite for passive investment and financial regulations, particularly Europe's Mifid II, is underpinning a "profound reshaping" of what Wall Street research analysts do, according to the Financial Times. It's a move into deep data and away from opinion-driven analysis.

What's happening: Because Mifid II mandates that asset managers and institutions pay for research directly rather than simply paying banks or researchers for their services broadly, there's a great "unbundling" happening throughout asset management.

Malta's prime minister to resign in wake of murdered journalist scandal

Joseph Muscat
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Maltese Prime Minister Joseph Muscat announced Sunday that he would resign next month in the wake of a crisis triggered by an investigation into the 2017 death of Daphne Caruana Galizia, a prominent anti-corruption journalist, AP reports.

The backdrop: Prosecutors on Saturday charged well-connected businessman Yorgen Fenech on suspicion that he paid contract killers to murder Caruana Galizia, a fierce critic of Muscat and his associates, according to the New York Times. Fenech had offered to give information linking Muscat's chief of staff and others to the murder plot in exchange for immunity, but the government turned down the offer.