Hedge funds' MiFID defection highlights limit of EU rule revamp
Decision by two big fund managers to drop MiFID licences is keenly watched in Europe
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EUROPE'S MiFID II rules haven't even kicked in, yet policymakers are already busy trying to make sure their oversight of financial markets is up to date.
Recent decisions by two of the world's biggest hedge funds highlight the huge number of firms that may escape the full brunt of the MiFID II regulations that start on Jan 3.
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