Impact of MiFID II No change Uncertain Negative Positive l l l l 41.6% 42.5% 22.0% 20.0% GLOBAL MEGA-CAP 32.5% 30.5% 5.8% 5.0% 41.7% 36.4% ASIA 20.1% 20.6% PACIFIC 30.2% LARGE-CAP 34.6% 7.9% 8.4% 44.0% 37.8% LATIN 24.0% 23.4% AMERICA 22.7% MID-CAP 33.3% 9.3% 5.4% 42.9% 51.6% NORTH 21.4% 21.0% AMERICA 33.3% SMALL-CAP 21.0% 2.4% 6.5% 41.9% 46.2% WESTERN 19.4% 30.8% EUROPE MICRO-CAP 38.7% 15.4% 0.0% 7.7 % 29