Will Equity Research regulation kill off the future?

Stumbled across this article a few days ago, and another one from [FT.][]

"MiFID 2, an ambitious set of European financial rules coming into effect next January, will force asset managers to disclose how much they spend on research. So banks will have to “unbundle” their services, billing clients for research and trading separately. Although the rules are being introduced by European regulators, banks across the world will have to change their pricing practices to comply.

These rules will be hugely, and beneficially, disruptive to a grossly inefficient industry. At present, banks blast their clients’ inboxes with thousands of reports, only a fraction of which are read. The problem is that most research is not very useful—it is hard to come up with original insights about big companies when dozens of other researchers are trying to do the same. So when they are presented with a bill for it, many fund managers will balk at paying for research they ignore."

Anybody have any insights or opinions about what MiFID 2 will do? The article goes on to say there will be knock-on effects from Europe to the US etc.

[FT.]: https://www.ft.com/content/0609b1b4-ec51-11e6-ba01-119a44939bb6