As a journalist, I can report that Wall Street is facing a fresh fight with the Securities and Exchange Commission (SEC) over European securities rules. The new SEC chairman, Gary Gensler, has been vocal about his concerns regarding the impact of European Union (EU) regulations on US markets.

The EU’s MiFID II regulations, which came into effect in 2018, require investment firms to unbundle research costs from trading fees. This has led to a decline in research budgets and a reduction in the number of analysts covering small and mid-cap stocks.

Gensler has expressed concern that this could lead to a lack of coverage for US companies, particularly those in the small and mid-cap space. He has also raised concerns about the impact of EU regulations on US trading venues and the potential for regulatory arbitrage.

This is not the first time that Wall Street has clashed with European regulators over MiFID II. In 2019, the US Treasury Department issued a report criticizing the regulations and calling for a review of their impact on US markets.

As a journalist, it is important to note that this issue is complex and has far-reaching implications for both US and European markets. It is also important to adhere to journalistic ethics and verify information from multiple sources before reporting on breaking news or developing feature stories and opinion pieces.