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Pressure on Small Brokers Grows a Year After New EU Rules

(Reuters) A year after new EU rules forced banks and brokers to charge investors for equity research, the pressure on small brokerages to make ends meet is becoming intense and more look set to merge or even shut up shop in 2019. According to dozens of executives at major hedge funds, asset managers, banks and brokerages, the picture looks bleak for smaller brokers who are being undercut by large banks and face increasingly cost-conscious asset managers.

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