In a presentation at The Lawyer’s Funds Summit on 25 November 2011, the Chief Executive of the Investment Management Association, Richard Saunders, highlighted the number of regulatory initiatives in the financial services arena coming out of the EU. Mr Saunders’ conclusion was that:
“Much of what is now on the table would be damaging to the EU economy as a whole. It would impact the UK particularly hard, but I for one do not buy the theory that it is a concerted plan to undermine London as a financial centre. Rather I believe that the problems arise from too much haste and insufficient consultation. The need for reform should not be ignored. But it should be appropriate and proportionate. Education of and engagement with policy-makers therefore remains critical.”
Mr Saunders’ presentation, which discusses just some of these EU measures, is linked in this IMA press release.
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