U.K. Firms Protest Cross-Border Regulations

Law360, New York (July 24, 2007, 12:00 AM EDT) -- A group of U.K. financial services firms has urged European Commission regulators to reconsider new regulations, claiming that increased oversight of cross-border deals may be a burden for customers and companies.

A group of trade associations representing the U.K. Financial services industry sent a letter to Internal Markets Commissioner Charlie McCreevy on Monday warning that while the industry may benefit from some regulation, too many new policies may diminish transparency and hinder competition.

The letter comes in response to the EC Green Paper on Retail Financial...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.