Groups Say EU Regs Cost UK Asset Managers $3.1B Annually

Law360, New York (July 20, 2015, 6:50 PM EDT) -- Reform-minded think tanks called for the European Union to ease financial regulations on asset managers, arguing that such regulations can cost a U.K. firm £2 billion ($3.1 billion) a year, creating  “unjustifiable” costs for firms doing business across the 28-member bloc, according to a report Monday.

Research groups Open Market and New City Initiative also say the European bloc should exempt EU-based asset managers who do not market their funds into other member countries from EU regulations, as part of six recommendations that the groups said,...
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