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80% of advisers see single EU regulator in the next 10 years

Almost 80 per cent of IFAs believe there will be a single European Union financial services regulator within the next decade, according to August&#39s online survey by technology specialist 1st Software.

Around 1,000 visitors to the 1st Software website responded to the 1st Impressions poll which was carried out to measure the opinions of firms on a range of industry and technology issues.

Every two weeks, new questions appeared on the site and the data was collected and analysed electronically and independently.

Forty-two per cent of respondents see stockmarket uncertainty as the biggest threat to their business, 36 per cent cite new regulations and 16 per cent see banks and building societies as the biggest threat. The remaining 6 per cent see companies such as Virgin and Egg as the greatest problem.

Opinion is split over the effect of depolarisation on the industry, with 43 per cent seeing it as a threat and 36 per cent seeing it as an opportunity.

On the impact of CP121, however, opinion was more clear, with 70 per cent saying they do not believe that consumers will benefit.

Managing director Rory Curan says: “Our new online poll is designed to capture the opinions of a wide range of IFAs and professional intermediary firms in a timely and efficient way.”

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