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MiFID II Event at the Italian Stock Exchange - What Changes for Investor Relations?

3 years ago · 1 MIN READ
#MiFID 2  #Unbundling  #CorporateAccess  #regolution  #Investor access 

The Italian market has always been a priority for us. Last year we have proudly established a very successful partnership with CDR Communication which made possible for our clients to finally meet the most suitable investors in Italy.

As we all know too well, corporate access is a subject that is set to be shaken by MiFID 2. Yet, like a waterfall, by impacting the way corporates access investors and vice-versa, the directive is also inevitably changing the role of IROs.

So the question is: how is the role of IROs changing in the post-MiFID II world?

To try and give an answer to this and many other questions, on 24 January 2018, we joined forces with CDR Communication, Intermonte and BANOR to host a round-table discussion at the beautiful “Palazzo Mezzanotte” of the Italian Stock Exchange.

The event, entitled “MiFID II: Cosa Cambia per le Investor Relations” (in English, “MiFID II: What Changes for Investor Relations”) was attended by more than 50 between CFOs and IROs of companies listed on the various segments of the Italian Stock Exchange (Borsa Italiana).

After the discussion by Silvia Di Rosa, Vincenza Colucci (Partners – CDR Communication), Alberto Villa (Head of Research – Intermonte), Angelo Meda (Head of Equities and PM – BANOR SIM) and, myself, a very interesting and engaging Q&A session followed, during which many important themes, topics and concerns for IROs have surfaced.

In particular, it has emerged that in the post-MiFID II world, IROs will have to take a more central and proactive role with respect to corporate access activities. The push for unbundling operated by the new regulation is changing the way brokers will be remunerated, hence changing how corporate access events will be organized. This in turn will require a broader and deeper involvement of IROs, who will have to engage more actively in developing and managing relations with institutional investors, as well as, in organizing corporate access events.

Digitalization and independent service providers were also highly debated topics. Our first-hand experience in organizing broker-independent roadshows via our platform schedulR, has ignited a fruitful discussion between IROs, brokers and investors about future trends, opportunities and concerns in the field of corporate access.

A great event, with great insights in anticipation of CONSOB to issue the updated version of the Intermediaries Regulation (in Italian, Regolamento Intermediari).

Press release here (in Italian).

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Kilian Maier


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