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A Practical Guide to MiFID II
Across Europe, the investment industry is preparing for the introduction of a revised Markets in Financial Instruments Directive (MiFID II) on 3 January 2018.
The biggest change under the new rules will be the requirement for fund management companies to explain clearly to their investors how much of their money is spent on research. This will inevitably impact how companies in the healthcare sector communicate with investors.
The question facing both sides is not only how to value investment research, but who will ultimately pay for it? Will smaller companies still see the same level of investor access and research?
Listen in to learn more about these new regulations, the direct impact for investors and biotech companies, and advice on how to proceed.
Dr Martin Turner
What does your role at BIA involve?
Martin is responsible for all the BIA's policy outputs and public affairs activities and leads on finance and tax policy as well as the BIA’s engagement with the investment community. He authors the BIA’s investment analysis reports and is a regular commentator on the life sciences sector in the national press. He also serves on the Advisory Board of the Cambridge University Science Policy Exchange (CUSPE).
Previous experience & achievements
Martin has over ten years experience in policy and public affairs and has worked at the Royal Society, the Campaign for Science and Engineering, and the Association of Medical Research Charities. Before embarking on a career in policy, he completed a PhD in molecular biology at the University of Sheffield, where he also co-founded and was director of an award-winning science communication charity called Science Brainwaves. He has a BSc in molecular biology from the University of Manchester.
Elizabeth Klein
Prior to founding her own consultancy, Elizabeth was an award-winning and highly-rated senior research analyst focused on the Life Sciences and IP Commercialisation sectors. Over 15 years at N+1 Singer, Teathers, Bridgewell, R.W. Baird and Dresdner Kleinwort Benson she developed an extensive network of client relationships and worked closely with a number of businesses in these sectors. She was the Starmine Healthcare Stockpicker of the Year in both 2006 and 2013, and was highly rated in the Extel survey over much of her career in investment banking. In 2015, Elizabeth founded Klein-Edmonds Associates, advising organisations in the biotechnology sector on their engagement and interaction with investors. She has consulted with Bioscience Managers since June 2017. Other clients: The BioIndustry Association, Radnor Capital, and Biotech & Money, and small businesses (Angel to pre-IPO) on corporate and investment strategy. Elizabeth is also a Trustee at the Royal National Orthopaedic Hospital (at Stanmore) Charity. Elizabeth has a 1st Class BSc in Applied Biology with Genetics from the University of Liverpool, an MBA from Imperial College Business School and an MA (Merit) in Medicine, Science & Society (History of Medicine) from Birkbeck, University of London.
Introduction from the BIA
Explanation of MIFID II
- What difference will this make to companies?
- How does this affect relationships with the US?
What does this mean practically for private and listed companies?
- How will investment research be affected?
- Pros and Cons of company sponsored research
- How things will change practically for those involved?
- What key issues should be discussed at Board level regarding MIFID II?
Q&A
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