By Rob Moulton, David Berman, Nicola Higgs, Dana Fleischman and Stephen Wink (November 16, 2017, 12:05 PM EST) -- On Oct. 26, 2017, the U.S. Securities and Exchange Commission published a press release announcing the issuance of three "no-action" letters, offering relief for U.S. broker-dealers looking to continue to provide research to European Union asset managers once MiFID II comes into force on Jan. 3, 2018. The first, and most significant, of the three SEC no-action letters addresses the issue of whether U.S. broker-dealers will be subject to additional regulation as "investment advisers" if they receive separate payments from EU asset managers for the provision of research services. The second and third letters deal with ancillary issues arising from the MiFID II unbundling requirements and the potential for different clients to pay differing amounts for research....