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On 20 March 2019, the “Handelsblatt” highlighted the consequences of MiFID for the research landscape. The number of analysts is declining. In future, small and mid caps will have to pay the costs of research themselves. The analyzed companies become customers of the banks. The problem is that some banks have not yet fully internalized the new understanding of their role. As Michael Diegelmann, member of the board of cometis AG, in the article explains: “Numerous institutes have so far appeared on the market with little or no thought. Issuers who inquire about the costs of their coverage are sometimes fobbed off with meaningless statements about flat-rate service packages”. Banks should therefore define specific services and price them in a way that is comprehensible to listed SMEs.
