MACQUARIE REACTS TO NEW REGULATION – The European division of Macquarie has plans to lay off a group of analysts as well as reshaping their coverage in circa six sectors. These moves come as EU groups come to grips with the new regulations that are coming into place forcing investors to explicitly pay for reports and analysts’ time. In response to the new regulations Fund Managers started to cut the number of investment banks and brokerages that they get research from. Banks and brokerages are trying to make what they can offer the most attractive, while at the same time cutting costs so their research will not take a loss. Macquarie said it would focus their efforts around six core areas: Infrastructure & Utilities, Metals & Mining, Oil & Gas, Financials, Disruptive Technology & Consumer and Quantitative Research. The bank would not clarify whether or not they would be cutting research in some areas and not in others, or whether or not there would be further cuts to those of last week in London where the Banks/Financials team were impacted. A person close to the matter said that there would be a “handful” of cuts. #SpartanInternational