Utermann Says Most Market Participants Ready for MiFID II

The transcript discusses the regulatory expectations for the financial sector in the US and EU, highlighting that the US may see stable or relaxed regulations, while the EU is expected to maintain or tighten its regulatory framework. The conversation shifts to MiFID and the slow release of guidance by European regulators, noting that the market is mostly ready for changes. However, non-European regulators, including the SEC, need to provide guidance for global trading. The discussion concludes with the potential impact on the industry if the SEC does not align with MiFID, though a no-action letter is anticipated to facilitate global implementation.

What does the speaker suggest about the readiness of market participants for upcoming regulatory changes?

What implications does the speaker foresee if the SEC does not act regarding global regulatory methods?