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The EU’s MIFID II, Broker Research, and the SEC’s No-Action Letters

Published Jun 15, 2023Updated Jun 21, 2025

The Congressional Research Service is a nonpartisan policy and legal analysis arm of the Library of Congress. CRS reports are written for members of Congress and their staff, not the public — but they’re made available openly through Congress.gov.

The EU’s MIFID II, Broker Research, and the SEC’s No-Action Letters — Informed