Banks could take a $4.4 billion hit from new reforms — and traders will bear the brunt of it

The European operations of investment banks are expected to lose $4.4 billion from new regulatory reforms, known as MiFID II.
Traders will shoulder the bulk of the losses, with equity and debt markets teams expected to lose a combined $2.5 billion.Global investment banks are going to see their revenues in Europe chopped by $4.4 billion from the new financial reforms that start to go live in January, according to a new report. Trading desks will bear the brunt of the losses. 
Banks generate