View more on these topics

Euro unit chief says we don’t need new rules

The head of the insurance and financial institutions unit at the European Commission has called for better and less financial regulation across Europe.

Speaking at the ABI conference, Karel Van Hulle said better implementation and enforcement of current regulation was required rather than a raft of new legislation.

Van Hulle was speaking ahead of a green paper to be published in May on EU strategies in the aftermath of the financial services action plan.

Treasury director of financial services Clive Maxwell said there was no need for a FSAP part two, although it would be appropriate to have some new legislation at European level.

He said the UK had to look at alternatives to regulation with more scope for competitiveness and better regulation of the regulators. Maxwell said the UK can be a model to the rest of the EC in the areas of corporate governance and insolvency and believed the operational model of the EC will end up close to current UK regulation.

Conservative MEP Jonathan Evans hoped Europe would follow UK best practice and not make UK firms go through a secondary process of regulation. He said: “The European agenda should show a move away from more regulation into more competitiveness. Underlying everything is the interests of the consumer.”


VCT Edge – Bridget Guerin

Chancellor Gordon Brown ignited the fire among VCT providers but he seems to have failed to get the fire roaring among investors and IFAs.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm