Cehic. Mifid ii to doddfrank, we will speak to the top newsmakers and Market Participants shaping and reacting to a new generation of rules. The sec says firms can accept payments from clients. A 30 month reprieve to u. S. Firms on the research was coming into effect in january from mifid ii. The Regulation Team in washington joins us now. Then, great to have you. You have been all over this story from the beginning. Deciding to doc this. Was it lobbying . Lets kick this . Brokeragesll street have been pushing for months to get the sec to tell them if they can accept payment from european clients and not have to register as an investment advisor. They dont want to register in the u. S. Because that carries responsibilities and costs, fiduciary duties. The sec relief they announced today is limited to european clients so they can continue to Bundle Research with Trading Execution Services in the u. S. For their clients. Then, youyour story, described this as a major victory for u. S. Br
David i dont consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . You have now had to follow bill gates and steve ballmer, two legendary figures. Did you feel you were ready for the job following those legends . Or were you saying i could do a better job than they did . Satya the best advice i got from both bill and steve i think helped me a lot. The clear message was, dont try to be like us. Dont even bother to sort of say, i am succeeding these people. Just be your own. In fact, i remember very distinctly, even during the interview process, the board was conducting they asked me, do you want to be the ceo . I said only if you want me to be , the ceo. The feedback i got was that people who want to be ceos are like, i want to be ceo. That is not me. I remember one i was talkin
Rules and return is the show where we delve into the regulatory challenges and opportunities of the Financial Markets around the globe. We will speak to the top newsmakers. First tower top story. They can accept payments. A 30 month reprieve to u. S. Firms on the research will that are coming into effect in january. Great to have you. You have been all over this story from the very beginning. Why did the sec decide to do this . The industry here in washington has been pushing for months to get the sec to tell them. They can accept payment from their european clients and not have to register as an investment advisor. They do not want to register in the u. S. Has that carries a bunch of new responsibilities and costs. Relief thathe sec they announced today is limited to european clients, so they can continue to Bundle Research with Trading Execution Services in the u. S. For their clients. Nejra you describe this as a major victory for u. S. Brokerages and firms. It takes away a level of
Challenges for the markets around the world. We will speak to the top newsmakers, regulators, and Market Participants reacting to a new generation of rules. To the top story, the sec says firms can accept payments from clients. They gained a 30 month reprieve on the research rules coming to effect in january with mifid ii. Ben from our Financial Regulation team joins us now. You have been all over this story from the very beginning. Why did the sec decide to do this . Was it the result of lobbying from the industry . Ben large wall street brokerages have been pushing for months to get the sec to tell them they can essentially accept payment from their european clients and not have to register as an Investment Advisor. They dont want to register as an Investment Advisor in the u. S. , because it creates it creates new responsibilities and costs, essentially fiduciary responsibilities. Meanwhile, the sec relief that they announced today is limited to european clients so they can Bundle R
David i dont consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . You have now had to follow bill gates and steve ballmer, two legendary figures. Did you feel at that time you were really ready for the job following those legends . Or were you saying i could do a better job than they did . Satya the best advice i got from both bill and steve i think helped me a lot. Because theyre clear message was, dont try to be like us. Dont even bother to sort of say, oh, i am seceeding these people. Just be your own. In fact, i remember very distinctly, even during the interview process, the board was conducting they asked me, do you want to be the ceo . And i said, only if you want me to be the ceo. The feedback i got was that people who want to be ceos are like, i want to be ceo. I said