As the European ban on bundling research with brokerage services looms, Nomura Holdings Inc. has proposed that clients pay as much as 120,000 euros (about ¥15 million) a year to access their favorite analysts.
That's what Nomura quoted in April for an all-inclusive "premium offering," according to a pricing document seen by Bloomberg News. While Nomura said pricing is still fluid and it's being flexible in talks with clients, the guidance may indicate how banks and their clients will settle on how to value something they've rarely charged for.
The European Union's MiFID II regulations, which will be enforced starting Jan. 3, aim to tackle conflicts of interest by requiring asset managers to separate the trading commissions they pay from investment-research fees.