Madrid Tag

I started the week at a Spanish conference on private banking in Madrid.  It was a glorious day in Madrid, spring was definitely in the air and the sun was warm on our backs. This was not a load of Brits on a good old jolly... the delegates at this event were Spanish and had come from all over Spain for the Banca Privada (Private Banking) conference by IIR Spain.  It was an interesting day, but given the questions and the speeches throughout, it was clear that the Spanish still have their heads in the sand about MiFID2 and the implications for fund distribution. Many seemed to think that the fact that implementation had been delayed by a year meant that it might be thrown out altogether... dream on because MiFID2 is here to stay.